Home News ANZ follows suit with full rate cut

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

Why choosing the right mortgage is hard for first-home buyers Why choosing the right mortgage is hard for first-home buyers

Many feel overwhelmed by the sheer range of products and interest rates on offer, a new survey reveals Read more

Mortgage applications drop in second quarter Mortgage applications drop in second quarter This marks the “beginning” of a downward trend, says Equifax executive ... Read more

To break monopoly, many smaller lenders could become banks To break monopoly, many smaller lenders could become banks The proposed change could break the Big Four’s monopoly over the mortgage market and help families get cheaper home loan rates ... Read more

Borrowing against the home: A strategy to pay for aged care Borrowing against the home: A strategy to pay for aged care Such debts can generally be divided into long-term and short-term loans ... Read more

More mortgage news and articles

Sponsored Links

Monday, Jul 24, 2017
Top Featured Rates
Top Bank Rates

Get help choosing the right home loan

Whether you're a first homebuyer, looking to refinance, or investing, it's important to have the right loan for your needs. Just fill in a few details below and one of our trusted mortgage advisers will contact you.

A quick & easy way to find the right home loan
  • 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