Following the RBA announcement last week that it would lower the official cash rate to 2.75%, a flood of cuts has continued to flow from lenders.
Credit Union Australia (CUA) has announced it will reduce both its variable and fixed rates. The mutual said it will lower its standard variable rate by 25 basis points to 5.60%, which it claimed undercut the average of the majors by 57bps.
CUA also trimmed 11bps from its three-year fixed rate home loan, cutting it to 4.99%, while lowering its three-year fixed premium home loan to 5.30%.
Adelaide Bank also announced it would drop its standard variable rate by 25bps, effective 27 May. The move will bring the rate on the bank's Variable SmartFit product from 5.81% to 5.56%.
Whether you are looking to buy your first home, move home, refinance, or invest in property, a mortgage broker can help. Access loans from all the major lenders, get help with paperwork – plus there is no charge for this service. Get help from a local mortgage broker
Top Suburbs :
Get help financing your investment
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local expert Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus, our mortgage broking service is at no cost to you.
We value your privacy and treat all your information seriously - you can check out