A non-bank lender has announced that, effective immediately, a fixed rate home loan for owner-occupier home loans will reduce in interest rate.
Homeloans’ Optima three-year fixed rate for owner-occupiers with P&I repayments has dropped from 4.08 per cent per annum (p.a.) to 3.98 per cent p.a. (3.90 per cent comparison).
This rate change is for new applications only.
The changes come in the same month as Homeloans reduced its Ultra Plus P&I owner-occupier rates for both variable and fixed rate mortgages.
For example, variable rates for this category now start at 3.77 per cent p.a. (3.93 per cent comparison), while fixed rates start from 4.04 per cent (4.14 per cent comparison).
The lender also consolidated pricing for variable rate lending greater than $200,000 earlier this month, resulting in just two loan amount pricing tiers for variable rate loans.