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Mortgage Rates Dip as Banks Anticipate RBA Cut

5/18/2025

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Summary

Story summary

The leading variable home loan rate stands at 5.59%, with 35 lenders offering rates below 5.75%.
Since April, 30 lenders, including ANZ and NAB, have lowered fixed-term rates.
Major banks anticipate a cash rate cut from the RBA, with NAB forecasting a reduction to 3.60%.
A 0.25 percentage point cut could reduce monthly repayments by $91 on a $600,000 mortgage.
Canstar's Sally Tindall highlights growing competition in the mortgage market.

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Story summary

The leading variable home loan rate stands at 5.59%, with 35 lenders offering rates below 5.75%.
Since April, 30 lenders, including ANZ and NAB, have lowered fixed-term rates.
Major banks anticipate a cash rate cut from the RBA, with NAB forecasting a reduction to 3.60%.
A 0.25 percentage point cut could reduce monthly repayments by $91 on a $600,000 mortgage.
Canstar's Sally Tindall highlights growing competition in the mortgage market.