Ahead of the Reserve Bank of Australia’s announcement of cash rate, several banks have adjusted their rates over the past week.

Bank of Us

Tasmania’s customer-owned lender Bank of us cut its ‘FlexiDiscount’ one-year fixed home loan by 20 basis points (bps) for owner occupier borrowers with 80% LVR, bringing the advertised rate to 1.59% p.a. (2.43% p.a. Comparative rate

This rate matches Greater Bank’s lowest advertised rate which was announced two weeks ago.

Bank of us also decreased its variable FlexiDiscount offer to owner-occupiers with 80% LVR of 10bps to 2.09% per annum (2.11% p.a. Comparative rate

Tasmanian residents can apply for loans at this rate up to 10 December 2021.

Teachers Mutual Bank and Firefighters Mutual Bank

Teachers Mutual Bank’s affiliate Firefighters Mutual Bank raised the rates of their fixed-standard home loans and package home loans to as high as 20bps.

These changes will apply to both owner-occupier as well as investor loans. These are just a few of the new rates.

  • Your Way P&I Fixed 3 yrs – 2.29% p.a. (3.81% p.a. (3.81% p.a.
  • Your Way P&I Fixed 4 yrs – 2.49% p.a. (3.73% p.a. Comparative rate
  • Your Way P&I Fixed 5 yrs – 2.94% p.a. (3.79% p.a. (3.79% p.a.
  • Your Way IO Fixed 3 yrs – 2.49% p.a. (3.88% p.a. (3.88% p.a.
  • Your Way Plus P&I Fixed 3 yrs 60-80% LVR – 2.14% p.a. (2.96% p.a. Comparative rate
  • Your Way Plus IO Fixed 3 yrs 60-80% LVR – 2.34% p.a. (2.99% p.a. (2) 2.99% p.a.
  • Investment Your Way P&I Fixed 3 yrs – 2.59% p.a. (4.11% p.a. (4.11% p.a.
  • Investment Your Way P&I Fixed 4 yrs – 2.79% p.a. (4.03% p.a. (4.03% p.a.
  • Investment Your Way P&I Fixed 5 yrs – 3.24% p.a. (4.08% p.a. (4.08% p.a.
  • Investment Your Way IO Fixed 3 yrs – 2.79% p.a. (4.17% p.a. (4.17% p.a.
  • Investment Your Way Plus P&I Fixed 3 yrs 60-80% LVR – 2.44% (3.25% p.a. Comparison rate
  • Investment Your Way Plus IO Fixed 3 yrs 60-80% LVR- 2.64% p.a. (3.28% p.a. Comparative rate

Hume Bank

Hume Bank made adjustments to its fixed-rate residential products and investment products in Sydney. 

  • myBlue P&I Fixed 3 yrs ≤60% LVR – up 5bps to 1.99% p.a. (2.07% p.a. (2.07% p.a.
  • myBlue P&I Fixed 3 yrs 60-80% LVR – up 5bps to 2.14% p.a. (2.29% p.a. Comparative rate
  • myBlue P&I Fixed 1 yr 80-90% LVR – up 5bps to 1.94% p.a. (2.40% p.a. (2.40% p.a.
  • myBlue IO Fixed 1 yr ≤60% LVR – down 5bps to 3.19% p.a. (2.18% p.a. Comparative rate
  • myBlue IO Fixed 1 yr 60 – 80% LVR – down 5bps 3.34% p.a. (2.43% p.a. Comparative rate
  • myBlue Investment P&I Fixed 1 yr ≤60% LVR – up 5bps to 2.19% p.a. (2.51% p.a. Comparative rate
  • myBlue Investment P&I Fixed 2 yrs ≤60% LVR – down 5bps to 2.29% p.a. (2.50% p.a. Comparative rate
  • myBlue Investment P&I Fixed 1 yr 60-80% LVR – up 5bps to 2.34% p.a. (2.66% p.a. Comparative rate
  • myBlue Investment P&I Fixed 2 yrs 60-80% LVR – down 5bps to 2.44% p.a. (2.65% p.a. (2) 2.65% p.a.

Bank of China

Bank of China has increased its fixed rate offer for two-year and three-year terms. It also reduced its discount rate under the Discount Home Loan product, which is available to investors or owner-occupiers.

These are the new changes:

  • Discount Plus Home Loan P&I Special Offer – down 10bps to 2.38% p.a. (2.84% p.a. Comparative rate
  • Discount Plus Investment Home Loan P&I Special Offer – down 10bps to 2.78% p.a. (3.23% p.a. Comparative rate
  • Fixed Rate Home Loan P&I 2 yrs Special Offer – up 10bps to 1.98% p.a. Comparison rate (3.17% per annum Comparison rate
  • Fixed Rate Home Loan P&I 3 yrs Special Offer – up 10bps to 2.08% p.a. Comparison rate (3.1% p.a. Comparison rate

MyState Bank

MyState Bank has reduced its investor special rates and base rates by tenbps. Here are the new rates

  • Special Residential Investment Loan ≤60% LVR – 2.44% p.a. (2.50% p.a. Comparative rate
  • Special Residential Investment Loan 60-70% LVR. 2.49% p.a. (2.55% p.a. Comparative rate
  • Special Residential Investment Loan ≤80% LVR – 2.54% p.a. (2.60% p.a. Comparative rate
  • Investment Basic Variable Home Loan ≤60% LVR – 2.44% p.a. (2.49% p.a. Comparative rate
  • 60-70% Investment Basic Variable mortgage LVR- 2.49% per Annum (2.54% Comparison rate
  • Investment Basic Variable Home Loan ≤80% LVR – 2.54% p.a. (2.59% p.a. Comparative rate

Bankwest

Bankwest also reduced various investment rates for its Complete Varable and Premium Select Home Loan products. These are the changes:

  • Complete Variable Home loan Investment 200-499k 70% – 2.64% p.a.
  • Variable Home Loan Investments 750k+ 70 – 2.59% per annum
  • Complete Variable Home Loan Investment 200-499k 80%-2.74 p.a.
  • Complete Variable Investment Home Loan 750k+, 80%-2.69 p.a.
  • Premium Select Home Loan Inv P&I 70% $20k+ – 2.74% p.a.
  • Premium Select Home Loan Inv P&I 80% 20-499k – 2.84% p.a.

Your Mortgage is currently contacting Bankwest for the comparison rates on these products.