Great news, homeowners – interest rates are coming down! The RBA has dropped the cash rate by 0.25%, and lenders big and small are following suit. That means potentially lower mortgage repayments for you!
👉 So, what’s next?
✅ Check with your lender – Some will automatically adjust repayments, but others might need a little nudge.
✅ Want to keep your repayments the same? – That’s a great way to pay off your loan faster!
✅ Thinking of refinancing? – We can help you find an even better deal!
📞 Get in touch with us at Greg Hearn Financial Solutions, and let’s make sure you’re getting the most out of this rate cut.
Your mortgage, your money – let’s make it work for you!
Current list of lenders passing on rate cuts as of today 25th February 2025:
Major Banks
Commonwealth Bank (CBA) – 0.25% cut (effective Feb 28, 2025)
National Australia Bank (NAB) – 0.25% cut (effective Feb 28, 2025)
ANZ – 0.25% cut (effective Feb 28, 2025)
Westpac – 0.25% cut (effective Mar 4, 2025)
Non-Major & Smaller Lenders
Macquarie Bank – 0.25% cut (effective Feb 28, 2025)
Bankwest – 0.25% cut (effective Feb 28, 2025)
Suncorp Bank – 0.25% cut (effective Feb 28, 2025)
Gateway Bank – Reduced to 5.6% (effective Feb 25, 2025)
Ubank – Reduced to 5.84% (effective Feb 27, 2025)
Bank First – Reduced to 5.84% (effective Feb 27, 2025)
Australian Mutual Bank – Reduced to 5.44% (effective Mar 1, 2025)
BCU – Reduced to 5.74% (effective Mar 5, 2025)
Bluestone – Reduced to 6.79% (effective Mar 5, 2025)
Bank of Queensland (BOQ) – Reduced to 5.84% (effective Mar 7, 2025)
Bendigo Bank – Reduced to 5.84% (effective Mar 7, 2025)
ME Bank – Reduced to 5.88% (effective Mar 8, 2025)
