The Reserve Bank of Australia maintained a low cash rate but lenders have made some rate adjustments in the past week.

These are the latest market changes in mortgage rates

Macquarie Bank

Macquarie offers discounts for a variety of its owner-occupier and investor mortgages.

The reductions are from 10-30 basis point (bps) and can be applied to both current rates, as well as the revert rate. These are only a few changes.

Reduce 30bps

  • Basic Variable Owner Occupied IO60 VVR – 2.59% p.a. (2.59% p.a. Comparative rate
  • Basic Variable Owner Occupied IO70 % LVR – 2.59% p.a. (2.59% p.a. Comparative rate

Cut of 20bps

  • Basic Variable Investments IO 70% LVR – 2.59% p.a. (2.59% p.a. Comparative rate
  • Variable Investments Offset – 70% LVR – 2.59% p.a. (2.86% p.a. Comparative rate

Reduced by 15bps

  • Basic Variable Owner Occupied 60 % LVR – 2.14% p.a. (2.42% p.a. comparison rate)*
  • Basic Variable Owner Occupied LVR 70% – 2.19% p.a. (2.47% p.a. comparison rate)*
  • Basic Variable Owner Occupied LVR 80 % – 2.24% p.a. (2.52% p.a. comparison rate)*

*The comparison rates stated above apply for variable rates with offset accounts. The advertised rates are not affected by the offset feature.

Reduced to 10bps

  • Basic Variable Investment IO : 80% LVR – 2.89% p.a. (2.89% p.a. Comparative rate
  • Basic Variable Investment PI80 LVR – 2.49% p.a. (2.49% p.a. Comparative rate
  • Basic Variable Owner Occupied IO 80% LVR – 2.89% p.a. (2.89% p.a. Comparative rate
  • Basic Variable Owner-Occupied (PI 90 LVR) – 2.69% p.a. (2.69% p.a. Comparative rate

Heritage Bank

Heritage Bank has increased its fixed interest rate by 10bps in Home Advantage Investment, Basic investment and Residential Loan offers.

These are just some of the changes.

  • 3-Year Fixed Rate Owner Occupied P&I – 2.29% p.a. (4.07% p.a. Comparative rate
    • Comparative Rate for Home Advantage Package: 3.06%
  • 5-Year Fixed Rate Owner Occupied P&I – 2.69% p.a. (3.91% p.a. Comparative rate
    • Home Advantage Package Comparison Rate – 3.15%
  • 3-Year Fixed Rate Investment P&I – 2.49% p.a. (4.51% p.a. Comparative rate
  • 3-Year Fixed-Rate Investment OIO – 2.59% p.a. (4.57% p.a. Comparative rate
  • 5-Year Fixed Rate Investment P&I – 2.99% p.a. (4.35% p.a. Comparative rate
  • 3-Year Fixed Rate Investment – 3.19% p.a. (4.45% p.a. Comparative rate

BankVic

BankVic’s latest offering has been revealed 2-year introductory rateAt 1.95% per annum (2.92% p.a. Comparison rate

This offer is available for both existing and new refinancers.

BankVic’s variable rates currently at 3.1% p.a. will be the rate the rate will return. (3.16% p.a. After the end of the introductory period, the comparison rate.

Bank of Queensland

The Bank of Queensland has introduced $1 Lenders Mortgage Insurance to change the rates of its investment products. This applies to loans up to 85 percent in LVR.

These are only a few changes that were made.

  • Investment Fixed P&I 4 yrs 80-85%LVR $1 LMI Offer – 3.24% p.a. (Compare rates not yet available as of press time)
  • Investment Fixed P&I 5 yrs 80-85% LVR $1 LMI Offer – 3.29% p.a. Comparative rates are not available at press-time

The $1 LMI Offer is available for home loan applications that were received between 6 September 2021 and 15 January 2022.

Newcastle Permanent

Newcastle Permanent made some changes to the rates of its special offer loan packages. These are just some of the changes made to the rates by the lender.

  • Premium Plus Package Variable P&I 80-95%LVR 150k+ Special Offer – 3.21% p.a. (3.61% p.a. Comparative rate
  • Premium Plus Package Variable P&I <80%LVR 150k+ Special Offer – 2.69% p.a. (3.10% p.a. Comparative rate
  • Real Deal P&I Special Offer 80% LVR 150k+ – 2.49% p.a. (2.53% p.a. Comparative rate