ANZ follows suit with full rate cut

Font size :
ANZ Bank, one of Australia’s big four, has reduced its interest rate for variable rate mortgages by 0.25%.
 
ANZ’s rate cut will be effective earlier than other lenders, as it will start 12 February at 5.63%, with a comparison rate of 5.73%. Most competitors will make their new rates open on 20 February.
 
The bank claims the 0.25% decrease will help save customers about $60 per month or $750 per year for the average home loan of $280,000.
 
“We’ve decided to move our standard variable rate for home loans down by 25 basis points which is the same as the movement in the Reserve Bank’s official cash rate,” said ANZ chief executive for Australia, Philip Chronican.
 
“Importantly the effective date for this change will be 12 February which is a full eight days earlier than most of our major competitors and I think that’s an important customer benefit,” he added. 
 

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

Mortgage News and Articles

CBA unveils new repayment simulator CBA unveils new repayment simulator

The simulator will show customers the differences between different types of repayments Read more

How to tell when a housing market is cooling How to tell when a housing market is cooling You need to check clearance rates, listings, and the price gap, among other factors ... Read more

Growing demand for green apartments in Sydney Growing demand for green apartments in Sydney Both owner-occupiers and investors favour eco-friendly buildings for their energy-saving features and reduced environmental footprint ... Read more

Are property investors as rich as they appear? Are property investors as rich as they appear? A multi-property portfolio doesn’t guarantee easy millions ... Read more

More mortgage news and articles

Sponsored Links

Tuesday, Sep 26, 2017
Top Featured Rates
Top Bank Rates

Get help choosing the right home loan

Let us help you find the right home loan for your needs.

Tell us a bit about your circumstances:
  • Purpose of mortgage
  • Household Income
    $
  • How much do you want to borrow?
    $
  • How much deposit do you have?
    $
  • How much is your house worth?
    $
  • How much do you still owe on your mortgage?
    $
  • What type of mortgage do you have?


  • How much is your new home?
    $
  • How much do you want to borrow?
    $
  • How soon do you want a mortgage?
Next
  • First name
  • Last name
  • Where do you live?
  • Phone number

Special Offers

Related Keywords