Reduce Home Loans: Lowest Variable Rates in the Market
Home loan interest rates have been a hot topic in recent months. Banks and non-bank lenders continue to compete with rising international costs of funding, despite the RBA Cash Rate on hold for a record 2 years at 1.5%.
These rising international costs have placed pressure on lenders to raise interest rates, most notably by the Big 4.
Comparison site Rate City’s Research Director, Sally Tindall observed: The Big 4 are now bucking the usual rate hike trend. The banks are hiking rates for new customers. Meanwhile, lowering rates for existing customers to “stay loyal” to their long-term clients.
Not all lenders are hiking rates for new customers, though.
This week Reduce Home Loans is teaming with Rate City and Get Credit Score to offer new customers a special 3.39%*p.a. comparison variable rate.
“You don’t have to cop high rates at this time”, Tindall said. Economists say the next time the RBA Cash Rate moves, it will be a hike. Now is the time to shop around with other lenders. “You want your mortgage to be as small as possible for when it (RBA Cash Rate) hikes,”
The Rate City Sale Event ends Midnight November 7, 2018. If you have a great credit score you can reserve your special rate with Reduce Home Loans. Find out more >