Category: Home Loan News
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Virgin Money Reverses Decision, Passes Full Rate Cut
In May 2025, the Reserve Bank of Australia announced a rate cut that many banks were expected to pass on to their customers. However, 14 Australian banks initially resisted implementing the full rate reduction, including Virgin Money. This decision sparked concerns among customers who faced the prospect of paying higher interest rates compared to other…
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Australian Lenders Slash Rates, Reshaping Housing Market Landscape
Fifteen Australian lenders have recently slashed variable rates, adding to the February cash rate cut, in a bid to stay competitive in the mortgage market as the Reserve Bank of Australia (RBA) gears up for its upcoming meeting. The housing market landscape is being reshaped by these rate adjustments, with potential impacts on property prices…
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Commonwealth Bank Slashes Fixed Home Loan Rates Amid Industry Competition
The Commonwealth Bank of Australia has made headlines by announcing a significant cut to its fixed rate home loans. The bank is set to reduce fixed rates by up to 0.40 percentage points across all fixed terms, a move aimed at attracting new customers and retaining existing ones. This decision comes in the wake of…
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Commonwealth Bank Cuts Home Loan Rates Amid Intense Competition
Commonwealth Bank of Australia (CBA) has made a significant move in response to the competitive lending landscape in Australia by reducing its home loan rates for the second time in a single month. The decision to lower the fixed rate home loan to 5.69% from 5.84% underscores the bank’s commitment to offering attractive and flexible…
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ANZ Cuts Home Loan Rates to Aid Customers Amidst Challenges
ANZ has announced a reduction in variable home loan rates in response to the Reserve Bank of Australia’s decision to cut the official cash rate. This move will see a 0.25% decrease in variable interest rates for Australian home loans under ANZ, effective from 30 May 2025. The decision comes as a relief for customers…
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Home Loan Battle: Commonwealth Bank Slashes Rates for Homeowners
A home loan war has erupted among Australia’s banks following the recent interest rate cuts by the Reserve Bank of Australia. Commonwealth Bank, the country’s largest lender, has announced significant reductions in both fixed and variable interest rates, providing a substantial benefit to homeowners. The Australian Guide to Buying Your First Home: How to Increase…
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Banks Cut Home Loan Rates After RBA’s Rate Reduction
After the Reserve Bank of Australia’s decision to cut the official cash rate by 0.25 percentage points, the big banks swiftly followed suit by reducing their variable home loan rates. With the official cash rate now at 3.85 per cent, borrowers are set to benefit from lower mortgage rates, making repayments more manageable. While some…
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Commonwealth Bank Customers Benefit from Rate Cut Flexibility
In February 2025, the Commonwealth Bank reported that only 14% of eligible home loan customers had adjusted their direct debit repayments following a rate cut. The reduction of 0.25% per annum resulted in potential monthly savings of up to $80 for customers with an average loan size of $500,000. The Australian Guide to Buying Your…
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Home Loan Market Competition Intensifies Amid Anticipated Rate Cuts
Competition in the home loan market is intensifying as lenders gear up for the Reserve Bank’s upcoming board meeting, where a 0.25% interest rate cut is widely anticipated. With economists predicting this rate cut, many borrowers are already benefiting from reduced rates, with over two dozen lenders slashing their fixed rates in recent weeks. The…
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Commonwealth Bank Customers Opt for Lower Home Loan Repayments
New data from the Commonwealth Bank reveals that a mere 14% of eligible home loan customers chose to decrease their direct debit repayments following the rate cut in February 2025. This rate reduction, amounting to 0.25% per annum, translated to potential monthly savings of up to $80 for customers with an average loan size of…