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Non-bank lender doubles RBA cut

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Your Investment Property | 10 Oct 2012, 02:00 PM Agree 0
Non-bank lender Homeloans has nearly doubled the RBA cut by dropping 45 basis points from its Homeloans ProSmart SMSF rate
  • daffy | 11 Oct 2012, 10:01 PM Agree 0
    my home mortgage stands at 6.18%, and has been for the last 8 months..........i'm thinking of changing as there are better deals than 6.18%, so 6.74%, unless it's a typo and you mean 5.74% is laughable?
  • Mike | 12 Oct 2012, 10:16 AM Agree 0
    Yeah daffy, this report is a little misleading - the .40% drop is only for their SMSF product. It's a niche product and that's why they can do this in a bid to get some positive press for it without hurting their bottom line too much. That's also why the rate is so high. They actually only dropped the regular rates the more standard .20%
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