al dente

is variable and still stuck at 6.09! Who, who knows more than me, can share some insight for me? When will me variable rate fall?

Alfresco

I dunno. Heard about it when I got home. Don't own a house here yet.

ajw

When was it announced by the RBA? The banks generally take their time in advising how much of the cut they will pass onto customers (if any).

bra_boy

The banks are still paying depositors 5.x% until the end of the term, so don't expect an immediate rate fall.

al dente

That sucks. The rate is almost twice the rate of the RBA!

coldbeer

Banks haven't announced how much of the cut they're passing on yet, when yours does your variable should drop by that amount, as far as I know anyway, I expect mine to. 6.09% variable is not bad BTW.

DadAgain

Yeah pretty sure mine is at 6.49% - so quit complaining!

Swerv-o

Yup. They all cry funding pressure, yet across the Tasman in NZ, the same banks, suffering the same alleged funding pressures, are offering significantly better rates...

I am beginning to suspect that the funding pressures line is actually a big fat lie.

I predict a 0.15% pass on this time, if we're lucky...


S

spuddyo

You can bet that when the rates go up again, the banks will pass on the full increase making the 'gap' between RBA and their rates permanent. It's about time the Government Treasury stepped in and set a maximum 'gap' limit.

Craig Vaughan

6.09% is a great rate!!! even after this next rate drop many will still not be as cheap as that.

All banks take their time, and ANZ only announces their decision Friday week after RBA decision.

Sunshine7

Wish ours was 6.09% - we are around 7.3% and fixed in for the next two years Ah well, it could have gone the other way I suppose...