Interest Rate Changes - June Rate Cut

Discussion in 'Loans & Mortgage Brokers' started by Redom, 4th Jun, 2019.

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  1. See Change

    See Change Well-Known Member

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    Firstmac ?

    Cliff
     
    See Change, 6th Jun, 2019
    #61
  2. jins13

    jins13 Well-Known Member

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    Thank you, but still awfully high. Hope with the servicability assessment being reduced, it's an opportunity to say 'goodbye and good riddance'.
     
    jins13, 6th Jun, 2019
    #62
  3. Skinman

    Skinman Well-Known Member

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    Anyone got any news on Pepper?

    Thanks
     
    Skinman, 6th Jun, 2019
    #63
  4. 4theBoys

    4theBoys Member

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    HSBC have passed on 0.22%
     
    4theBoys, 6th Jun, 2019
    #64
    Yann likes this.
  5. 4theBoys

    4theBoys Member

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    Effective 17th June
     
    4theBoys, 6th Jun, 2019
    #65
    Yann likes this.
  6. Air_Bender

    Air_Bender Well-Known Member

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    Air_Bender, 6th Jun, 2019
    #66
  7. Peter_Tersteeg

    Peter_Tersteeg Mortgage Broker Business Member

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    Don't count on it. The modelling I've done suggests increases of roughly 10% - 15% in some cases.

    Those with higher interest rates (such as you're leaving some loans with Liberty), will find their borrowing capacity actually does down.
     
    Peter_Tersteeg, 6th Jun, 2019
    #67
  8. captainredbeard

    captainredbeard Member

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    Bankwest passing on the whole .25% as well. Wasn't expecting them to pass on the whole thing, but happy they are!
     
    captainredbeard, 6th Jun, 2019
    #68
    rizzle and Rex like this.
  9. Lucki

    Lucki Well-Known Member

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    What about Firstmac and Resimac/Homeloans?
     
    Lucki, 6th Jun, 2019
    #69
  10. Rex

    Rex Well-Known Member

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    First time I can remember this happening in my 6 years with them
    EDIT: but they are sitting on their hands for 3 weeks of course
     
    Rex, 7th Jun, 2019
    #70
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  11. hieund85

    hieund85 Well-Known Member

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    Any anouncement from AMP?
     
    hieund85, 7th Jun, 2019
    #71
  12. MPZ

    MPZ New Member

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    Hi euro73.
    Have not seen anything publicly. Any idea when this will be effective?
     
    MPZ, 7th Jun, 2019
    #72
  13. euro73

    euro73 Well-Known Member Business Member

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    Screenshot 2019-06-07 14.32.30.png
     
    euro73, 7th Jun, 2019
    #73
  14. Beyond Wealth

    Beyond Wealth Well-Known Member

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    All rates .25% effective 24 June
     
    Beyond Wealth, 7th Jun, 2019
    #74
    Lacrim, hieund85, ChrisP73 and 1 other person like this.
  15. Lacrim

    Lacrim Well-Known Member

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    Any of the majors dropped their 3-5 fixed OO or Investment P&I rates in the last 48 hrs?
     
    Lacrim, 7th Jun, 2019
    #75
  16. ChrisP73

    ChrisP73 Well-Known Member

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    Amp confirmed they are passing the full 0.25% cut to variable rate home loans for existing customers effective 24th June
     
    ChrisP73, 7th Jun, 2019
    #76
  17. Rex

    Rex Well-Known Member

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    All these lenders seem to need 2 - 3 weeks to type a few characters into a computer!
     
    Rex, 7th Jun, 2019
    #77
  18. Lacrim

    Lacrim Well-Known Member

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    (Over)Charging of fees and interest is fully automated.
     
    Lacrim, 7th Jun, 2019
    #78
  19. Waterboy

    Waterboy Well-Known Member

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    Fixed rates are fixed, banks don't cut fixed rates for existing mortgages. :rolleyes::p

    If you mean new mortgages, it would be ridiculous locking in a rate now, because the market is expecting up to 2 more rate cuts later this year! :eek:o_O
     
    Waterboy, 7th Jun, 2019
    #79
  20. Waterboy

    Waterboy Well-Known Member

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    Denial is Not a River in Egypt
    Actually:

    Bankwest = CommBank
    St George = Westpac
    etc etc
     
    Waterboy, 7th Jun, 2019
    #80
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