Following the Reserve Bank of Australia’s decision to reduce the official cash rate to an historic low of 1 per cent, Aussie has announced it will reduce its variable rates by 0.20 per cent for customers with an Aussie Home Loans product*.
Aussie Select’s variable rate changes will be effective from 22 July 2019, with Aussie IQ, Aussie Optimizer and historical Aussie products rate changes effective from 18 July 2019.
David Smith, Chief Customer Officer at Aussie, said pricing had been reviewed with their funders to align with funding costs and the competitive lending environment.
“This 0.20 per cent rate cut along with our 0.25 per cent reduction last month will see variable customers 0.45 per cent better off. But while rates are tumbling, customers can keep their repayments at pre-cut levels to build a buffer in their mortgage, get ahead on repayments and reduce the interest paid over the life of their loan to pay off their home loan faster,” said Mr Smith.
Aussie Home Loans are available exclusively through Aussie Mortgage Brokers. To find out more visit www.aussie.com.au to book a free appointment, or call 13 13 33.
*Aussie Activate interest rates are currently under review.