Homeloans has cut its Ultra Plus variable rates to 4.89% (comparison rate 5.22%).

The new rate applies for loans with an LVR less than or equal to 75%.

Your Mortgage’s home loan calculator shows the reduction will save customers about $15 a month for a loan of $350,000, on a loan term of 20 years, compared to the previous rate.

Ultra Plus loans with an LVR greater than 75% have a reduced interest rate of 4.99% (comparison rate 5.32%).

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