At present, the following have passed on some relief to borrowers on their standard variable loans to take effect in May –
ANZ – 0.19%
CBA – 0.25%
BOQ – 0.25%
Westpac – 0.25%
NAB – 0.25%
As an investor and home owner, it is a perfect time to chat to your broker about your ‘best’ finance structure moving forwards as the reserve bank has it’s cash rate at the lowest rate since World War 2. To put things in perspective, the cash rate in 1990 was at 17% vs 1.75% today. On a $400,000 interest only loan, this is a difference of $1173 per week ($1307 pw vs $134 pw) in repayments.