What Happened To My Home Loan Rate?

Some major lenders have reduced home loan rates on variable rate home loans and hiked investment loans but it’s not all bad news for investors!

How much your monthly repayments will change will depend on the lender you’re with and the type of mortgage that you have.

Some of these changes have already taken affect so what can you do now?

Who are the winners?

You’ve probably benefited if you have a:

  • Home loan with principal and interest (P&I) repayments.

  • Fixed rate investment or interest only loan since the bank can’t change your rate.

Who are the losers?

You’ve probably lost out if you have:

  • A home loan with interest only repayments.

  • An investment loan with P&I repayments.

  • An investment loan with interest only repayments (worst affected).

Which banks have changed their rates?

Commonwealth Bank (CBA) Standard Variable Rates

  • Owner occupied P&I: Interest rate reduced 0.03% to 5.22%

  • Owner occupied interest only: Increased 0.30% to 5.77%

  • Investment P&I: No change at 5.80%

  • Investment interest only: Increased 0.30% to 6.24%

  • These changes are effective from 7 July 2017.

  • The above rates exclude your professional package discount (if applicable) so your rate is likely much lower.

  • If your home loan is fixed then it has not been affected.

You can switch to P&I repayments by emailing customercare@homeloanexperts.com.au and we’ll take care of this for you.

We can also assess your options if you would like to refinance.

National Australia Bank (NAB) Standard Variable Rates

  • Owner occupied P&I: Reduced 0.08% to 5.24%

  • Owner occupied interest only: Increased 0.35% to 5.77%

  • Investment P&I: No change at 5.80%

  • Investment interest only: Increased 0.35% to 6.25%

  • These changes are effective from 30 June 2017.

  • The above rates exclude your professional package discount (if applicable) so your rate is likely much lower.

  • If your home loan is fixed then it has not been affected.

You can switch to P&I repayments by emailing customercare@homeloanexperts.com.au and we’ll take care of this for you.

We can also assess your options if you would like to refinance.

ANZ Standard Variable Rates

  • Owner occupied P&I: Reduced 0.05% to 5.20%

  • Owner occupied interest only: Increased 0.30% to 5.75%

  • Investment P&I: Reduced to 5.80%

  • Investment interest only: Increased 0.30% to 6.26%

  • These changes have been effective since 16 June 2017.

  • The above rates exclude your professional package discount (if applicable) so your rate is likely much lower.

  • If your home loan is fixed then it has not been affected.

You can switch to P&I repayments by emailing customercare@homeloanexperts.com.au and we’ll take care of this for you.

We can also assess your options if you would like to refinance.

St George Standard Variable Rates

  • Owner occupied P&I: Reduced 0.08% to 5.22%

  • Owner occupied interest only: Increased 0.31% to 5.81%

  • Investment P&I: No change at 5.78%

  • Investment interest only: Increased 0.34% to 6.32%

  • These changes are effective from 30 June 2017.

  • The above rates exclude your professional package discount (if applicable) so your rate is likely much lower.

  • If your home loan is fixed then it has not been affected.

You can switch to P&I repayments by emailing customercare@homeloanexperts.com.au and we’ll take care of this for you.

We can also assess your options if you would like to refinance.

Westpac Standard Variable Rates

  • Owner occupied P&I: Reduced 0.08% to 5.24%

  • Owner occupied interest only: Increased 0.34% to 5.83%

  • Investment P&I: No change at 5.79%

  • Investment interest only: Increased 0.34% to 6.30%

  • These changes are effective from 30 June 2017.

  • The above rates exclude your professional package discount (if applicable) so your rate is likely much lower.

  • If your home loan is fixed then it has not been affected.

You can switch to P&I repayments by emailing customercare@homeloanexperts.com.au and we’ll take care of this for you.

We can also assess your options if you would like to refinance.

Bankwest Standard Variable Rates

  • Owner occupied P&I: No change at 3.92%

  • Owner occupied interest only: No change at 4.29%

  • Investment P&I: Reduced 0.40% to 4.54% (conditions apply)

  • Investment interest only:No change at 5.24% (conditions apply)

  • These changes are effective from 30 June 2017.

  • The above rates exclude your professional package discount (if applicable) so your rate is likely much lower.

  • If your home loan is fixed then it has not been affected.

You can switch to P&I repayments by emailing customercare@homeloanexperts.com.au and we’ll take care of this for you.

We can also assess your options if you would like to refinance.

Suncorp Standard Variable Rates

  • Owner occupied P&I: No change at 5.55%

  • Owner occupied interest only: No change at 5.55%

  • Investment P&I: Increased 0.12% to 5.99%

  • Investment interest only: No longer available

  • These changes are effective from 3 July 2017.

  • The above rates exclude your professional package discount (if applicable) so your rate is likely much lower.

  • If your home loan is fixed then it has not been affected.

You can switch to P&I repayments by emailing customercare@homeloanexperts.com.au and we’ll take care of this for you.

We can also assess your options if you would like to refinance.

AMP Standard Variable Rates

  • Owner occupied P&I: No change at 4.29%

  • Owner occupied interest only: No change at 4.80%

  • Investment P&I: Increased 0.35% to 5.12%

  • Investment interest only: Increased 0.34% to 5.40%

  • These changes have been effective since 23 June 2017.

  • The above rates exclude your professional package discount (if applicable) so your rate is likely much lower.

  • If your home loan is fixed then it has not been affected.

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