Home loan rate wrap: ANZ, HSBC, Adelaide Bank & more move

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AutoInsuranceMM.Info – Low income insurance – Home loan rate wrap: ANZ, HSBC, Adelaide Bank & more move

More than a dozen lenders made rate cuts and hikes to a total of 96 home loan products last week, according to Canstar data.

Source: jax10289 (iStock)

Home loan rate changes for owner occupiers were overwhelmingly hikes, with 28 interest rate increases and 10 cuts.

The steepest rate hike was by 0.45 percentage points and the biggest rate reduction was by 0.49 percentages points.

Lenders that cut rates for owner occupiers last week included ANZ, Adelaide Bank and Hume Bank.

ANZ made a number of cuts to its fixed rate home loans and one rate cut of 0.34 percentage points on its Simplicity Plus P&I variable rate home loan, just days after Commonwealth Bank reduced some of its rates.

The ANZ Simplicity Plus P&I home loan for owner occupiers paying principal and interest, who make a 20% deposit, now has an advertised interest rate of 3.65% (*comparison rate 3.69%).

Adelaide Bank made the biggest rate reductions for owner occupiers last week on its three-year fixed loans.

The bank reduced its ‘SmartFix P&I 3yrs’ and ‘SmartSaver Fixed P&I 3 yrs’ interest rates by 0.49 percentage points to 3.99% (*comparison rates 4.57% and 4.32% respectively).

The largest rate hike of 0.45 percentage points was made by Queensland Country Credit Union to its ‘Discount Variable Package Rate LVR <80%’ home loan.

HSBC, Hume Bank, Newcastle Permanent and People’s Choice Credit Union were some of the other lenders to increase rates for owner occupiers last week.

Fixed investment home loans dominated by rate cuts

As for investor home loans, there were more rate cuts than increases with all 32 product changes to fixed rate investment home loans being a reduction last week.

The largest cut was by 0.39 percentage points from Adelaide Bank on its three-year fixed investment loans for people paying principal and interest.

These cuts applied to its ‘Investment SmartFix P&I 3 yrs’ and ‘Investment SmartSaver Fixed P&I 3yrs’ loans which now have rates of 4.19% (*comparison rates 4.99% and 4.74% respectively).

For a full summary of last week’s rate movements on Canstar’s database, see below.

Home loan rate movements 31/07/18 – 06/08/18

Home Loan Product Level Changes between 31/07/2018 to 06/08/2018 (%)
Company Product  Old Rate New Rate Change Comparison Rate*
Owner Occupier Home Loans
Variable
ANZ Simplicity Plus P&I 3.99 3.65 -0.34 3.69
Arab Bank Australia 12 Month HeadStart Home Loan 4.15 4.25 0.10 5.59
Arab Bank Australia Essentials Home Loan 5.59 5.69 0.10 5.73
Arab Bank Australia The Basics Home Loan 5.49 5.59 0.10 5.72
Delphi Bank Owner Occupied Home Loan IO 5.98 6.14 0.16 6.33
Delphi Bank Owner Occupied Home Loan P&I 5.37 5.47 0.10 5.59
FCCS Credit Union Affinity Home Loan Package Mutual Home Loan Owner Occ IO  80% 150k+ 4.34 4.44 0.10 4.73
FCCS Credit Union Affinity Home Loan Package Mutual Home Loan Owner Occ P+I  80% 150k+ 3.89 3.99 0.10 4.28
FCCS Credit Union Mutual Home Loan Owner Occ IO 80% 4.54 4.64 0.10 4.66
FCCS Credit Union Mutual Home Loan Owner Occ P+I 80% 3.99 4.09 0.10 4.11
FCCS Credit Union Relocation Home Loan (no end loan) 1 yr 5.69 5.79 0.10 5.81
FCCS Credit Union Relocation Home Loan (with end loan) 4.54 4.64 0.10 4.66
HSBC Home Smart 5.23 5.33 0.10 5.39
HSBC Variable PI 5.23 5.33 0.10 5.39
Hume Bank Property Package Variable P&I 250-499k 3.95 4.30 0.35 4.66
Newcastle Permanent Discounted Real Deal – P&I (3 Yrs) 4.40 4.48 0.08 4.70
Newcastle Permanent Discounted Real Deal IO 3 yrs 4.85 4.97 0.12 4.83
Newcastle Permanent Premium Plus Package Home Loan  80% 150-499k 3.64 3.72 0.08 4.10
Newcastle Permanent Premium Plus Package Premium Variable IO 150-499k 4.09 4.21 0.12 4.26
Newcastle Permanent Premium Variable IO 5.72 5.84 0.12 5.55
Newcastle Permanent Premium Variable P&I 80% 5.27 5.35 0.08 5.35
Newcastle Permanent Real Deal IO 5.10 5.22 0.12 4.96
Newcastle Permanent Real Deal P&I 4.65 4.73 0.08 4.77
Newcastle Permanent Real Options IO 5.50 5.62 0.12 5.37
Newcastle Permanent Real Options P&I 5.05 5.13 0.08 5.17
People’s Choice Credit Union Standard Variable IO 5.75 5.85 0.10 5.90
People’s Choice Credit Union Standard Variable P&I 5.20 5.30 0.10 5.35
Queensland Country Credit Union Discount Variable Package Rate (LVR <80% 3.89 4.34 0.45 4.69
Fixed
Adelaide Bank SmartFix P&I 1 yr 4.17 3.79 -0.38 4.64
Adelaide Bank SmartFix P&I 2 yrs 4.35 3.89 -0.46 4.60
Adelaide Bank SmartFix P&I 3 yrs 4.48 3.99 -0.49 4.57
Adelaide Bank SmartSaver Fixed P&I 1 yr 4.17 3.79 -0.38 4.37
Adelaide Bank SmartSaver Fixed P&I 2 yrs 4.35 3.89 -0.46 4.34
Adelaide Bank SmartSaver Fixed P&I 3 yrs 4.48 3.99 -0.49 4.32
ANZ Breakfree Residential Fixed 2 yrs 150k+ 3.99 3.75 -0.24 4.92
ANZ Residential Fixed 2 yrs 4.14 3.90 -0.24 5.02
Hume Bank First Home Starters Package 2 year 2 yrs 150k+ 3.79 3.49 -0.30 4.62
Hume Bank Property Package Residential Fixed P&I 2 yrs 150k+ 3.89 3.99 0.10 4.69
Investor Home Loans
Variable
Arab Bank Australia 12 Month HeadStart INV Home Loan 4.15 4.25 0.10 5.59
Arab Bank Australia Inv Essentials Home Loan IO 5.59 5.69 0.10 5.73
Arab Bank Australia Inv Essentials Home Loan P+I 5.59 5.69 0.10 5.73
Arab Bank Australia Inv The Basics 5.49 5.59 0.10 5.72
Delphi Bank Residential Investment Home Loan IO 5.86 5.96 0.10 6.15
Delphi Bank Residential Investment Home LoanP&I 5.56 5.66 0.10 5.79
FCCS Credit Union Affinity Home Loan Package Mutual Home Loan Inv IO  80% 150k+ 4.59 4.69 0.10 4.97
FCCS Credit Union Affinity Home Loan Package Mutual Home Loan Inv P+I  80% 150k+ 4.29 4.39 0.10 4.68
FCCS Credit Union Mutual Home Loan Inv IO 80% 4.79 4.89 0.10 4.91
FCCS Credit Union Mutual Home Loan Inv P+I 80% 4.49 4.59 0.10 4.61
Gateway Bank Inv Low Rate Essentials 4.12 3.92 -0.20 3.94
Gateway Bank Inv Low Rate Essentials IO 4.42 4.17 -0.25 4.19
HSBC Home Equity – Investment IO 6.30 6.40 0.10
HSBC Investment Home Smart 5.85 5.95 0.10 6.02
HSBC Investment Variable IO 6.15 6.25 0.10 6.32
HSBC Investment Variable P&I 5.85 5.95 0.10 6.02
Newcastle Permanent Premium Plus Package Investment Premium Variable IO 150-499k 4.44 4.56 0.12 4.63
Newcastle Permanent Premium Plus Package Investment Premium Variable P&I  80% 150-499k 3.99 4.11 0.12 4.49
Newcastle Permanent Premium Variable – Investment P&I 80% 5.57 5.69 0.12 5.69
Newcastle Permanent Real Deal – Investment IO 5.40 5.52 0.12 5.29
Newcastle Permanent Real Deal – Investment P&I 4.95 5.07 0.12 5.11
Newcastle Permanent Real Options – Investment IO 5.80 5.92 0.12 5.70
Newcastle Permanent Real Options – Investment P&I 5.35 5.47 0.12 5.51
People’s Choice Credit Union Investment Standard Variable IO 6.26 6.36 0.10 6.41
People’s Choice Credit Union Investment Standard Variable P&I 5.85 5.95 0.10 6.00
Reduce Home Loans Inv Rate Buster 100% Offset Var 4.14 4.24 0.10 4.24
Fixed
Adelaide Bank Investment SmartFix P&I 1 yr 4.27 4.09 -0.18 5.11
Adelaide Bank Investment SmartFix P&I 2 yrs 4.45 4.09 -0.36 5.03
Adelaide Bank Investment SmartFix P&I 3 yrs 4.58 4.19 -0.39 4.99
Adelaide Bank Investment SmartSaver Fixed P&I 1 yr 4.27 4.09 -0.18 4.85
Adelaide Bank Investment SmartSaver Fixed P&I 2 yrs 4.45 4.09 -0.36 4.78
Adelaide Bank Investment SmartSaver Fixed P&I 3 yrs 4.58 4.19 -0.39 4.74
ANZ Breakfree Investment Fixed 2 yrs 150k+ 4.08 3.95 -0.13 5.43
ANZ Breakfree Investment Fixed 3 yrs 150k+ 4.29 4.19 -0.10 5.38
ANZ Investment Fixed 2 yrs 4.23 4.10 -0.13 5.54
ANZ Investment Fixed 3 yrs 4.44 4.34 -0.10 5.47
BankVic Inv fixed 1 yr 4.34 4.29 -0.05 5.16
BankVic Inv fixed 2 yrs 4.34 4.29 -0.05 5.10
BankVic Inv fixed 3 yrs 4.39 4.34 -0.05 5.02
BankVic Inv fixed 4 yrs 4.94 4.74 -0.20 5.16
BankVic Inv fixed 5 yrs 4.94 4.74 -0.20 5.15
BankVic Portfolio Inv fixed 1 yr 250k+ 4.24 4.19 -0.05 5.13
BankVic Portfolio Inv fixed 2 yrs 250k+ 4.24 4.19 -0.05 5.07
BankVic Portfolio Inv fixed 3 yrs 250k+ 4.29 4.24 -0.05 5.04
BankVic Portfolio Inv fixed 4 yrs 250k+ 4.84 4.64 -0.20 5.13
BankVic Portfolio Inv fixed 5 yrs 250k+ 4.84 4.64 -0.20 5.12
BankVic Premium Home Inv fixed 1 yr 50k+ 4.24 4.19 -0.05 4.87
BankVic Premium Home Inv fixed 2 yrs 50k+ 4.24 4.19 -0.05 4.80
BankVic Premium Home Inv fixed 3 yrs 50k+ 4.29 4.24 -0.05 4.75
BankVic Premium Home Inv fixed 4 yrs 50k+ 4.84 4.64 -0.20 4.84
BankVic Premium Home Inv fixed 5 yrs 50k+ 4.84 4.64 -0.20 4.82
BankVic Property Investor Inv fixed 1 yr 100k+ 4.24 4.19 -0.05 4.87
BankVic Property Investor Inv fixed 2 yrs 100k+ 4.24 4.19 -0.05 4.80
BankVic Property Investor Inv fixed 3 yrs 100k+ 4.29 4.24 -0.05 4.75
BankVic Property Investor Inv fixed 4 yrs 100k+ 4.84 4.64 -0.20 4.84
BankVic Property Investor Inv fixed 5 yrs 100k+ 4.84 4.64 -0.20 4.82
Gateway Bank Premium Investment Fixed 2 yrs 150k+ 4.25 4.04 -0.21 5.40
QBANK Fixed Investor <80% LVR 3 yrs 4.19 4.05 -0.14 4.74
Source: www.canstar.com.au. Rates based on loans available for $400,000 at 80% LVR. *Comparison rate based on a loan amount of $150,000 over 25 years. Comparison rates based on advertised comparison rates.