Lenders cutting variable and fixed rates

Despite the preference for lenders to cut their fixed rates to entice new customers, there are some lenders cutting their variable rates.

Canstar found that last week over 10 lenders cut their variable rates, at an average cut of 20 basis points, or 0.20 per cent.

The home lenders who cut rates are:  

1. AMO Group
2. Aussie
3. Greater Bank
4. G&C Mutual Bank
5. Heritage Bank
6. Hume Bank
7. MOVE Bank
8. Qudos Bank
9. Suncorp Bank
10. The Capricornian
11. Tic Toc Home Loans

 Over the last week, 30 lenders cut 576 fixed rates by an average of -0.32 per cent.

The average variable interest rate for owner occupiers paying principal and interest is 3.33% and the lowest rate is 1.77% (60% LVR) or 1.99% (80% LVR)