Illawarra Home Loans has sliced its first home Fixed interest rate by 10 basis points to 4.59% (5.12% comparison rate).

Your Mortgage’s home loan calculator shows the reduction will save first home owners about $16 a month for a loan of $300,000, on a loan term of 20 years, compared to the previous rate.

The rate applies for a home loan between $100,000 - $750,000.

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