Tag: interest rate reduction
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ANZ Cuts Home Loan Rates to Aid Homeowners
ANZ has announced a reduction in variable home loan rates in response to the Reserve Bank of Australia’s decision to lower the official cash rate. Effective 22 August 2025, variable interest rates on ANZ’s Australian home loans will decrease by 0.25% per annum. This move aims to provide relief to homeowners and offer them flexibility…
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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 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…