Current Interest Rates for ANZ, CBA, NAB and Westpac

By Janet Spencer

Current Interest Rates for ANZ, CBA, NAB and Westpac

Current Interest Rates for ANZ, CBA, NAB and Westpac are falling. The Reserve Bank of Australia made a surprise announcement this week and lowered interest rates by 0.25% basis points to the historic low of 2.75% official cash rate.

As property buyers now is a good time to ensure that our mortgages are with the best lender for the best interest rate and overall deal.  Whether you are an investor or a home buyer, you should be proactive and regularly contact your mortgage broker or lending manager to ensure you are on the best rate possible and service offering.

ANZ announces interest rate cut

The ANZ Bank has reduced its interest rates by 0.27% or more than the official Reserve Bank Cut.

From next Friday, ANZ will cut its standard variable mortgage rate by 27 basis points to 6.13 per cent.

That rate equals the current standard variable rate offered by NAB, which has had the cheapest mortgage rates of the big four banks for more than three years.

The Commonwealth Bank’s standard variable rate will be 6.15 per cent from Monday, while Westpac’s will be 6.26 per cent effective a week later on May 20.

The other three major banks – Westpac, NAB and the Commonwealth Bank – have all passed on the RBA’s 25-basis-point cut in full….”

For up to date information on what’s happening in real estate in Melbourne, contact Janet at  jspencer@buyersolutions.com.au or 0418 101 146.

By Janet Spencer

Buying property, First home buyers, Housing Affordability, Investment, Investment property, Real Estate News & Opinion, State of the market

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