Tag: home loan calculator
-
Australian Banks Lower Interest Rates in Response to RBA
Australia’s Big Four banks have swiftly responded to the Reserve Bank’s recent decision to cut interest rates by 0.25 percentage points, bringing the rate down to 3.85 per cent. This adjustment marks the lowest level for interest rates since May 2023, following the RBA’s decision to maintain the cash rate at 4.1 per cent in…
-
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…
-
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…
-
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…
-
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…
-
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…