12th August 2025 – The Reserve Bank Board has announced a reduction to the Official Cash Rate of 0.25%
This is great news for borrowers with many banks already announcing they will be passing on the full 0.25% rate cut to their customers
Rate Cuts
RBA cuts OCR to 0.25% . . .
The Reserve Bank Board met in an emergency meeting today and voted to cut the Official Cash Rate to a new record low 0.25%
The Prime Minister has strongly urged banks to pass on this rate cut in full to support Australian families to cope with the negative financial impact of the COVID-19 pandemic.
The vast majority of banks passed on the full 0.25% rate cut announced earlier this month and borrowers will be pressuring banks to repeat this action.
If you have any concerns regarding your Home Loan please click on CONTACT US or call (07) 55 274 744
Banks pass on full 0.25% p.a. RBA Rate Cut
Great news for borrowers as the vast majority of banks have confirmed they are passing on 100% of the 0.25% p.a. rate cut recently announced by the Reserve Bank of Australia.
Borrowers can expect to receive the lower interest rates within 7 – 21 days (varies from bank to bank).
Q: How can you make the most of the lower interest rates ?
A: You have several options:
- Pay extra amounts into your Home Loan or keep your repayments at the existing higher amount as this will reduce your Home Loan debt faster which will save you even more $$$. The banks calculate how much interest you are charged based on the daily balance of your Home Loan … The less you owe the less interest you will be charged.
- Reduce your loan repayments to suit the lower interest rate and you will have more $$$ left in your pocket to fund the other priorities in your life.
If you wish to discuss which option is best to suit your circumstances please contact our experienced Mortgage Specialists.
Did your bank pass on the full 0.50% RBA rate cuts in June & July ???
Many banks were quick to advertise & announce how good they were to pass on the full 0.25% p.a. RBA rate cut in June 2019.
Not surprisingly many of these same banks were making far less noise when they held back from passing on the full 0.25% p.a. rate cut announced by the RBA in July 2019. (i.e. total 0.50% rate cut over 2 months).
Below is a list of the Banks & their combined interest rate reductions for the months of June and July 2019.
|
Bank: |
Rate Reduction June: |
Rate Reduction July: |
Total: |
| Macquarie | 0.25% p.a. | 0.20% p.a. | 0.45% p.a. |
| ING | 0.25% p.a. | 0.20% p.a. | 0.45% p.a. |
| Auswide Bank | 0.25% p.a. | 0.25% p.a. | 0.50%p.a. |
| ME Bank | 0.25% p.a. | 0.15% p.a. | 0.40% p.a. |
| AMP Bank | 0.25% p.a. | TBA | |
| CBA | 0.25% p.a. | 0.19% p.a. | 0.44% p.a. |
| BankWest | 0.25% p.a. | 0.19% p.a. | 0.44% p.a. |
| NAB | 0.25% p.a. | 0.19% p.a. | 0.44% p.a. |
| Bank Australia | 0.25% p.a. | 0.16% p.a. | 0.41% p.a. |
| Bank of Qld | 0.25% p.a. | 0.15% p.a. | 0.40% p.a. |
| AFG | 0.25% p.a. | Pending | |
| Citibank | 0.25% p.a. | Pending | |
| IMB Bank | 0.25% p.a. | Pending | |
| RACQ | 0.25% p.a. | 0.25% p.a. | 0.50% p.a. |
| Pepper | 0.25% p.a. | Pending | |
| Westpac | 0.20% p.a. | 0.20% p.a. | 0.40% p.a. |
| St George | 0.20% p.a. | 0.20% p.a. | 0.40% p.a. |
| RAMS | 0.20% p.a. | 0.20% p.a. | 0.40% p.a. |
| Bendigo Bank | 0.20% p.a. | Pending | |
| Suncorp | 0.20% p.a. | 0.19% p.a. | 0.39% p.a. |
| Heritage | 0.20% p.a. | TBA | |
| ANZ | 0.18% p.a. | 0.25% p.a. | 0.43% p.a. |
| CUA | 0.15% p.a. | 0.17% p.a. | 0.22% p.a. |
Down they go yet again !!!
The predictions of many of Australia’s Senior Economists were confirmed this afternoon as the Reserve Bank voted to reduce the Official Cash Rate yet again to an amazingly low 1.00%.
The Federal Treasurer (Josh Frydenberg) has already commenced his efforts to encourage the banks to pass on this additional 0.25% p.a. rate cut in full.
Is your bank charging you more than they need to ???
Home Loan 2.99% p.a. – Fixed for 3 Years
Banks are in a frenzy to compete for new Home Loans with banks offering Home Loan Interest Rates as low as 2.99% Fixed for 3 Years.
“CONTACT US” is you would like to take advantage of this record low interest rate.
(CR 4.19%)
Special Low Rates for First Home Buyers . . .
A Special 5 Year Fixed Rate of only 3.49% p.a. is currently available for First Home Buyers … WOW !!!
This will provide FHB’s with the confidence of knowing they have secured an incredibly low rate which cannot increase for the first 5 years of their Home Loan.
Not only this, but FHB’s can make additional repayments of up to $30,000.00 to reduce their loan balance & can also redraw these additional repayments if they need to have access to these funds in the future.
Click on “CONTACT US” or call 07 5527 4744 to talk with our Mortgage Specialists
We absolutely love saving you $$$
(CR 4.63%)
Did Your Bank Pass on the Full 0.25% RBA Rate Cut ???
Listed below are the Interest Rate reductions announced by banks following the recent 0.25% RBA rate cut
|
Bank: |
Rate Reduction: |
Date to be applied: |
| Macquarie | 0.25% p.a. | 21st June 2019 |
| ING | 0.25% p.a. | 25th June 2019 |
| Auswide Bank | 0.25% p.a. | 2nd July 2019 |
| ME Bank | 0.25% p.a. | 27th June 2019 |
| AMP Bank | 0.25% p.a. | 24th June 2019 |
| CBA | 0.25% p.a. | 25th June 2019 |
| BankWest | 0.25% p.a. | 25th June 2019 |
| NAB | 0.25% p.a. | 14th June 2019 |
| Bank Australia | 0.25% p.a. | 24th June 2019 |
| Bank of Qld | 0.25% p.a. | 25th June 2019 |
| AFG | 0.25% p.a. | 14th June 2019 |
| Citibank | 0.25% p.a. | 25th June 2019 |
| IMB Bank | 0.25% p.a. | 21st June 2019 |
| RACQ | 0.25% p.a. | |
| Pepper | 0.25% p.a. | 24th June 2019 |
| Westpac | 0.20% p.a. | 18th June 2019 |
| Westpac
(Interest Only Invest Loans) |
0.35% p.a. | 18th June 2019 |
| St George | 0.20% p.a. | 18th June 2019 |
| RAMS | 0.20% p.a. | 18th June 2019 |
| Bendigo Bank | 0.20% p.a. | 28th June 2019 |
| Suncorp | 0.20% p.a. | 21st June 2019 |
| Heritage | 0.20% p.a. | 21st June 2019 |
| ANZ | 0.18% p.a. | 14th June 2019 |
| CUA | 010% p.a. – 0.15% p.a. | 18th June 2019 |
Senior Economists Predict More Rate Cuts . . .
Many senior economists are predicting the Reserve Bank will announce a further rate reduction in the next month or 2 with a potential 3rd rate cut prior to Christmas.
Q: Why ???
A: They believe one rate cut will simply not be sufficient to stimulate the Australian economy to the level the RBA are seeking.
Many banks appear to agree & are already factoring in further rate cuts by reducing their 2, 3 & 5 Year Fixed Interest Rates to new record low rates.
CONTACT US if you are considering locking part or all of your Home Loan / Investment Property Loan on a Fixed Interest Rate.
Reserve Bank Announce New Record Low Rate
Borrowers & Home Buyers will be rejoicing the decision of the Reserve Bank Board to reduce the Official Cash Rate to a NEW RECORD LOW 1.25%.
Banks are already under pressure to pass on this rate cut in full to their customers with the Federal Treasurer Josh Frydenberg having already holding meetings with the Big 4 Banks to remind them to remain “Customer Focussed” which was a key recommendation of the recent Royal Commission.
The new government is keen to ensure this happens & senior economists agree the banks can’t afford to be stingy or else they will face a wave of borrowers seeking better offers from other banks.
Keep an eye out for the upcoming announcements by your bank and if you are not happy … CONTACT US and we will be more than happy to negotiate with the bank on your behalf.
