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RBA Announcement
The RBA has maintained the official cash rate at a historic 0.1%
02 February 2021|2 minute read
Since it made the decision to cut the official cash rate in November, the Reserve Bank of Australia (RBA) has decided to hold the rate in its latest announcement at the historical low of 0.1%.
The decision is welcome news for homebuyers looking to buy and a great reason for homeowners to refinance their home loan to a lower interest rate.
Many lenders now have rates starting with a ‘1’ – and that’s fantastic news for home owners, upgraders and first home buyers.
Not surprisingly, today’s low rates have seen record numbers of Australians refinance their home loan. It’s a chance to save with a lower rate – and potentially save more with a cash back offer.
What should I do if my lender hasn’t changed their rate?
If you haven’t had your home loan reviewed by your Aussie Broker in the last year or two, you could be missing out.
Your Aussie Broker can give you an exact figure but switching to a new loan can see you potentially save money each year. That’s valuable extra cash for your 2021 wish list – and your Aussie Broker can make refinancing as easy as possible.
Aussie Brokers are available over the phone, by email or via a video chat to discuss your home loan and any potential savings you may be eligible for.
Lender rate changes between November 2020 and February 2021
| Lender | Owner occcupied, principal & interest | Owner occupied, interest only | Investment, principal & interest | Investment, interest only | Effective date |
|---|---|---|---|---|---|
| Athena | -0.15% | -0.15% | -0.15% | -0.15% | 3/11/2020 |
| Homestar Finance | -0.15% | -0.15% | -0.15% | -0.15% | 3/11/2020 |
| Homeloans.com.au | -0.15% | -0.15% | -0.15% | -0.15% | 3/11/2020 |
| Reduce home loans | -0.10% to -0.20% | -0.10% to -0.20% | -0.10% to -0.20% | -0.10% to -0.20% | 3/11/2020 |
| P&N Bank | -0.10% | -0.10% | -0.10% | -0.10% | 20/11/2020 |
| ME | -0.15% | -0.15% | -0.15% | -0.15% | 26/11/2020 |
