The latest lender to adjust its interest rates for mortgages this week is Citibank Australia, as it dropped charges for loans both less and more than $500,000.

The bank’s rate for loans amounting to minimum $150,000 but less than $500,000 decreased from 5.14% to 4.99, specifically for LVR between 80.01% to 90% (with LMI). The comparison rate sits at 5.34%.

Meanwhile, loans under LVR less than or equal to 80% now have the lessened rate of 4.87%, down from 5.04%. The comparison rate is 5.22%.

For loans greater than $500,000, the interest rate for LVR between 80.01% to 90% (with LMI) dipped from 5.09% to 4.94%. The comparison rate is 5.29%. Those with LVR less than or equal to 80% have the new 4.83% rate, down from 4.99%. The comparison rate is 5.18%.

The deadline for application was moved from 2 January to 30 January. 

With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now