Citibank has cut its variable home loans by 25 basis points.

The standard variable rate has fallen to 6.19% (comparison rate 6.33%).

Your Mortgage’s home loan calculator shows the 0.25% drop will save customers about $23 a month for a home loan of $150,000 on a loan term of 25 years, compared to the previous rate.

Changes are effective from Monday 26 August.

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