Interest Rates Drop By 0.25% – ANZ, NAB, Westpac, CBA, ING, St George
*********** UPDATE: Recent Bank Rate Decisions ******************
ANZ hae reduced their mortgage rates by 0.20% today on the 14th December
Westpac and St George will drop their variable interest rate by 0.20% effective December 17th
Commonwealth Bank (CBA) and NAB announced that they will drop their varibale rates by 0.20% effective December 10th
ING Direct reduce rates by the full amount 0.25% but will let their customers wait until the 24th of this month to receive the benefit
Bank of Queensland the first to move and drops rates by 0.20%
See below for full list
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As expected the RBA reduced interest rates by 0.25% reducing the official cash rate to 3.00%
We will have to wait and see what the banks and other mortgage providers do with their variable home loan rates. I feel they will not pass on the full rate cut despite what the government says.
As always we will keep you up to date on each lenders decision.
| Banks and Other Lenders |
Rate Cut | Effective date |
| Adelaide Bank/Bendigo Bank | -0.20% | December 21st |
| AMP | -0.20% | December 24th |
| ANZ | -0.20% | |
| Bank of Queensland ( BOQ) | -0.20% | December 21st |
| Bank of Melbourne | -0.20% | December 17th |
| Bankwest | -0.20% | December 18th |
| Citibank | ||
| Commonwealth Bank | -0.20% | December 10th |
| Heritage Bank | ||
| Homeside Lending | -0.20% | December 14th |
| ING Bank | -0.25% | December 24th |
| Macqauire Bank | ||
| NAB | -0.20% | December 10th |
| St George Bank / Bank SA | -0.20% | December 17th |
| Suncorp Bank | -0.20% | December 21st |
| Rock Building Society | ||
| Westpac | -0.20% | December 17th |
If you would like to speak to a licensed mortgage consultant about your current mortgage or your options click the link below.
