Home News MMPCU updates mortgage interest rates

MMPCU updates mortgage interest rates

Font size :
The Maritime Mining Power Credit Union has updated its interest rates for new home loan contracts this week following the Reserve Bank of Australia's decision to leave the official rates unchanged at two per cent.

Fixed rate options for housing finance remained unchanged, but the rate for interest only home loans fell from 4.99% to 4.69%. Owner, occupier, investment, and interest only home loan packages increased by 15 basis points across the board, except for the All in One Home Sale and First Rate 12-month special, which retained their interest rates at 4.49% and 3.99%, respectively.

On the other hand, the interest rate for First Rate home loans decreased by 30 basis points, although MMPCU clarifies that this is only available for new home loans, refinances from competitors, or for existing home loan members who add an additional minimum $100,000 to their existing home loan balance. The minimum home loan amount for new home loans is at $150,000 and is not available for First Rate 12-month introductory variable rate offer.

No changes were made on personal and business loan interest rates.

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