<a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a> is preparing to commence construction on <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> this October, marking the next milestone for the Melbourne CBD development and its higher-end Eliza Collection.

Spanning levels 44 to 68 of the 68-storey <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>-designed tower, the Eliza Collection has been conceived as a lower-density offering within the broader development, with only five apartments on each floor, dedicated lift access and a collection of resident spaces reserved exclusively for Eliza Collection residents.

The Eliza Collection forms part of Far East Consortium's broader move toward larger-format residences at 640 Bourke Street, where the number of apartments was reduced from earlier plans as apartment sizes increased.

[smartcode_project:default project_id=509 project_image_fid=365685]

"What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Far East Consortium Director of Sales and Marketing Lauren Sheldon said.

Rothelowman Associate Jun Chang said the design process provided an opportunity to create more generous floorplans.

"We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."

[smartcode_project:default project_id=509 project_image_fid=368869]

That thinking carries through to the Eliza Collection, where the residences have been designed around the space and functionality associated with a larger home, but positioned high above the centre of Melbourne.

Kitchens are equipped with Gaggenau appliances, a butler's pantry, temperature-controlled wine cabinet and sculptural pendant lighting, while engineered timber flooring, stone and porcelain finishes and custom cabinetry feature throughout the broader interiors.

Privacy and security are another point of distinction. Eliza Collection residents have dedicated lift access, while 640 Bourke Street will provide concierge services and secure resident parking. Short-stay accommodation, including Airbnb, will not be permitted within the development.

[smartcode_project:default project_id=509 project_image_fid=365689]

Eliza Collection residents will also have exclusive access to selected amenity spaces across levels one and three of the restored Eliza Tinsley building. These include the Salon with grand piano, an art therapy room, private dining rooms and treatment rooms.

They sit within more than 3,000 sqm of amenity planned across 640 Bourke Street, alongside facilities including a pool, gym, whisky lounge and further social and wellness spaces.

The Eliza Tinsley building itself is central to the wider project's identity. Rather than treating the existing Eliza Tinsley façade as a separate element, Rothelowman used it as a starting point for the architecture of the new tower, with the historic building to accommodate the project's gallery and lobby.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

[smartcode_project:default project_id=509 project_image_fid=368872]

The tower will rise behind the retained heritage building at 640 Bourke Street, placing residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market and the Docklands waterfront.

With construction scheduled to begin in October, Far East Consortium has established an onsite display gallery at 640 Bourke Street, including fully built apartments that allow the project's layouts, materials and finishes to be inspected at full scale.

A fully built Eliza Collection apartment is also available to view at the display suite by appointment ahead of the planned October construction commencement.

Eligible purchasers who buy before construction commences can secure the full available off-the-plan stamp duty savings, subject to eligibility and applicable conditions.

[smartcode_project_cta:default project_id=509]

Joel Robinson

Far East Consortium brings Eliza Collection to 640 Bourke Street ahead of October construction start

By the time S&amp;S Projects began planning <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia</a>, the developer already had three Rainbow Bay projects from which to draw.

Flow, Awaken and Esprit had given <a href="https://www.apartments.com.au/developers/ss-projects">S&amp;S Projects</a> experience developing in the southern Gold Coast enclave, as well as buyer feedback that could be carried into its fourth project, a boutique collection of 38 residences at 271 Boundary Street.

“We have experienced a lot of success in this location and as this was our fourth building we had taken all of the learnings and buyer feedback from previous projects to arrive at a design and apartment mix that we believe had captured all of that experience and remained a true S&amp;S Project in its design and amenity,” the developer said.

That experience has translated into a collection of two, three, four and five-bedroom residences including two penthouses positioned on an elevated corner in Rainbow Bay, where the site opens to multiple coastal view corridors and the area's distinctive north-facing bay.

[smartcode_project:default project_id=140491 project_image_fid=284542]

S&amp;S Projects says the Boundary Street site took years to assemble, having previously comprised six units, a house and a duplex. The developer worked individually with the existing owners to bring the properties together after an earlier attempt to sell the site had been complicated by the number of parties involved.

“We are constantly looking for properties that meet our brand standards of location, views, and sites that are rare with unique aspects that we can develop to maximise the lifestyle of residents who live in our buildings,” S&amp;S Projects said.

The Boundary Street site gave <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a> a different set of conditions to work with.&nbsp;

“Our design brief was to design a building that took advantage of its unique elevated corner siting offering a range of spectacular view corridor opportunities,” Cottee Parker said.

“The design had to reinforce the strong brand pillars of S&amp;S which are quality, luxury and superior resident amenity.”

[smartcode_project:default project_id=140491 project_image_fid=284543]

Cottee Parker responded with a sculptural floorplate and strong horizontal banding, with continuous balconies and landscaped planters wrapping the building. Operable screens along the balcony edges allow residents to manage light and shade while creating an additional layer of pattern across the facade.

The tower rises above a heavily landscaped podium incorporating the entry lobby and recreational level, while the broader architectural expression takes cues from Rainbow Bay's coastal environment through its organic forms and light material palette.

Cottee Parker says the design has also been developed to complement S&amp;S Projects’ three previous Rainbow Bay developments while retaining its own architectural identity.

Inside, the residences continue that coastal response through two interior schemes centred on warm timbers and neutral tones, alongside patterned natural stone and fluted detailing.

Floor-to-ceiling sliding glass doors connect open-plan living areas to wraparound balconies, while natural stone is used across benchtops, splashbacks and bathroom walls. Specifications also include light-washed timber flooring, gas fireplaces, integrated bar and wine fridges, freestanding stone baths and 100 per cent wool carpet.

[smartcode_project:default project_id=140491 project_image_fid=284559]

Cottee Parker Director Sandra Brown said the intention was to create an architectural response closely connected to its surroundings.

“Imagine architecture that breathes with the rhythm of nature, where every curve and line flows seamlessly – creating spaces that dance with the elements, where sunlight kisses every surface and the gentle sea breeze fills every space,” Brown said.

The lessons S&amp;S Projects carried into Radia also extend to its resident amenity, with a substantial collection of shared facilities planned for just 38 residences.

A dedicated Residents Club will include a lap pool and spa, gymnasium, ice bath, sauna, steam room and hot rocks sauna. A residents' lounge, private dining room, outdoor dining and barbecue area and business centre are also planned, along with storage and dedicated surfboard and beach lockers.

S&amp;S Projects Founding Director Paul Gedoun said the facilities were also designed around the project's Rainbow Bay setting.

“Each amenity is designed to capitalise on the lifestyle of Rainbow Bay, ensuring residents can enjoy the relaxed coastal experience the enclave is famous for,” Gedoun said.

[smartcode_project:default project_id=140491 project_image_fid=284555]

<a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a> says purchasers to date have predominantly included local downsizers, interstate lifestyle investors and families, alongside a strong contingent of repeat S&amp;S purchasers.&nbsp;

According to the project sales team, feedback has centred on the natural stone and joinery, generous floorplans, natural light and the ability for residences to capture views in multiple directions. The completed Flow, Awaken and Esprit developments have also provided prospective purchasers with an existing reference point for S&amp;S Projects' delivery in Rainbow Bay.

There has also been interest from high-profile surfers and people connected to the surf community, with the elevated building providing outlooks towards several of the area's recognised surf breaks.

Radia continues S&amp;S Projects' concentration of development in a tightly held part of the southern Gold Coast, close to Rainbow Bay Beach, Snapper Rocks, Duranbah Beach, Greenmount Beach and the Tweed River. The neighbourhood also includes a growing collection of hospitality venues, while Coolangatta Airport provides connections beyond the southern Gold Coast.

Hutchinson Builders is now delivering Radia, continuing the project from early works privately funded by S&amp;S Projects. The $250 million development is expected to reach completion in the third quarter of 2027.

“With our history in Rainbow Bay, we have been fortunate to be heavily involved in how the development landscape has unfolded and this project slides into the property landscape comfortably and will feel like it was always there,” the developer said.

[smartcode_project_cta:default project_id=140491]

How three Rainbow Bay projects shaped S&S Projects' fourth, Radia

Nearly 40 years after <a href="https://www.apartments.com.au/developers/sheida-group">The Sheida Group</a> began working on the northern Gold Coast, the family-owned developer is continuing its involvement in Hope Island with Marina Point Apartments, where apartment scale has been a central part of the development.

Across the 235-apartment waterfront community, the developer has prioritised larger floorplans, substantial open space and marina access, responding to a purchaser base that has predominantly comprised local owner-occupiers and downsizers moving from larger homes.

"Having already delivered Anchorage nearby, we also understood this particular market and how people live here," developer Rick Sheida said.

"<a href="https://www.apartments.com.au/new-apartments/marina-point-apartments-hope-island-66-view-line-terrace-hope-island-qld-4212">Marina Point&nbsp;Apartments</a> gave us the opportunity to build on those lessons and create the next evolution of our work in Hope Island."

[smartcode_project:default project_id=136992 project_image_fid=293151]

The Sheida Group acquired the Marina Point land around 2018. Its appeal, Sheida says, went beyond having a waterfront address.

"What attracted us was not simply that the site was waterfront, but the way it meets the water," he said.

"It sits at the junction of broad waterways, creating long sightlines, changing views and a sense of movement throughout the day. Its shape also allowed us to orient the buildings outward, improve privacy between residences and make better use of natural light and breezes."

The buildings have subsequently been positioned around the perimeter of the site, allowing most apartments to take in water views while others look across the resort amenity or hinterland. Once all four buildings are complete, approximately one hectare of the site is expected to remain as open space.

The waterfront also provides the potential for up to 50 marina berths, with berths ranging from 15 to 24 metres and options designed to accommodate wider vessels including catamarans. Access from the marina to the Gold Coast Seaway is bridge-free.

[smartcode_project:default project_id=136992 project_image_fid=293149]

The developer says purchasers to date have predominantly been owner-occupiers and downsizers from <a href="https://www.apartments.com.au/new-apartments/marina-point-apartments-hope-island-66-view-line-terrace-hope-island-qld-4212">Hope Island</a> and elsewhere on the Gold Coast, generally aged between 45 and 70. Many have sold larger family homes or properties requiring significant upkeep.

That purchaser profile informed a design brief centred on retaining the space and functionality of a larger home within an apartment format.

"Many of our buyers are coming from large, well-appointed homes in Sanctuary Cove and the surrounding area," the project team said.

"They are accustomed to generous spaces and thoughtful design, so it was important that the apartments delivered the same sense of comfort and functionality.

"Every room needed to feel well proportioned, every space needed a clear purpose and nothing could feel compromised."

Residences range from 139 sqm through to 319 sqm penthouses, with two car spaces provided to apartments and three to penthouses. Minimum 2.7-metre ceilings, floor-to-ceiling glazing, entertainer's kitchens with butler's pantries, substantial storage and balconies ranging from 18 sqm to 37 sqm further reflect the emphasis on space.

One purchaser from Sanctuary Cove has taken the concept further, combining two of Marina Point's largest apartments to create a 552 sqm residence with raked ceilings reaching up to 4.5 metres.

[smartcode_project:default project_id=136992 project_image_fid=293155]

With Building 1 now complete, the developer is also seeing its original design assumptions tested against purchaser feedback.

Three completed display residences allow prospective purchasers to compare apartment sizes, layouts, finishes and outlooks in person. The sales team says one of the most consistent responses has been to the scale of the apartments, with visitors describing them as feeling more like homes than conventional apartments.

The first stage of resident amenity is also operational, including a 25-metre heated lap pool, Technogym-equipped gym, infrared sauna, golf simulator and yoga room. Future facilities are set to include a resort-style pool and spa, waterfront barbecue area and a residents' lounge with a library, fireplace, pool table, kitchen and bar.

Rather than treating the four buildings independently, the design brief called for a complete waterfront neighbourhood, balancing private residences with landscaping, open space, marina access and shared amenity.

[smartcode_project:default project_id=136992 project_image_fid=293152]

For Sheida, Marina Point Apartments is ultimately an extension of the developer's longer-term involvement in Hope Island and its view of how the suburb is evolving.

"We were equally interested in the long-term future of Hope Island," he said.

"Its position between Brisbane and the central Gold Coast gives residents access to both, while improving transport connections are making the northern Gold Coast increasingly attractive as a permanent place to live."

Hope Island Marketplace is 1.3 kilometres from Marina Point, while Sanctuary Cove and Paradise Point are within six kilometres. Links Hope Island, The Pines and The Palms golf courses are also nearby, and the new Hope Island train station is under construction around five kilometres from the development.

Building 2 is under construction, with completion scheduled for 2027.

[smartcode_project_cta:default project_id=136992]

Marina Point Apartments continues The Sheida Group's 40-year Hope Island story

Sydney-based fund manager and developer EG is seeking to turn part of the former Roche pharmaceutical campus in Cromer into a 130-home residential community, introducing a mix of low-rise apartments, townhouses and duplexes to the tightly held Northern Beaches market.

The SJB-designed masterplan has been prepared for the 3.2-hectare site at <a href="https://www.apartments.com.au/new-apartments/100-south-creek-road-cromer-nsw-2099">100 South Creek Road</a>, part of the former Roche landholding that EG acquired for $55 million in 2017 through its Yield Plus Infrastructure Fund No. 2.

EG is proposing what SJB describes as a new "urban village" set within the site's significant existing tree canopy.

<img alt="Cromer" data-entity-type="file" data-entity-uuid="482c9a58-49f1-4c53-a12e-aaa02336229f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-24%20at%2011.20.57%E2%80%AFAM.png?VersionId=hZP8_XfPnfNq500dbcjlpVwYU1ebhF9_" />

Around three hectares of the site is considered developable, with the balance incorporating a riparian corridor that would be rehabilitated and revegetated as part of the proposal.

The indicative masterplan comprises approximately 72 apartments in low-rise residential buildings and another 58 townhouses and duplexes.

The apartment component would include around five one-bedroom, 37 two-bedroom and 30 three-bedroom residences, while the townhouse and duplex component would be spread across several different housing typologies. The overall scheme would deliver around 19,500 sqm of gross floor area at an FSR of 0.6:1.

Parking for the apartment component is currently estimated at around 112 resident spaces and 14 visitor spaces, while the townhouse and duplex component would have 116 resident and 12 visitor spaces.

A significant part of the masterplan revolves around retaining the established landscape character of the former Roche campus.

SJB's plans show heavily treed setbacks along both Campbell Avenue and South Creek Road, a centrally located collection of significant native and exotic trees retained as communal open space, and the regeneration of the northern bushland area.

The existing creek corridor along the site's western edge would also be rehabilitated and revegetated, creating additional separation between the new homes and the neighbouring Northern Beaches Business Park.

A heritage-listed cottage and its garden setting would be retained and restored, with SJB flagging its potential adaptive reuse as communal space.

The proposal also includes new communal recreation areas, pedestrian connections to Campbell Avenue and South Creek Road, and a contribution toward improvements to the adjoining Michele Reserve.

Vehicular access would be restricted to South Creek Road, with no vehicle entry proposed from Campbell Avenue. The main internal road would largely follow the site's existing driveway to minimise the impact on established trees.

SJB said residential redevelopment presented an opportunity to retain the majority of the site's heritage-listed mature trees while delivering a broader range of housing types than typically seen across the Northern Beaches.

"The site being 3.27 hectares in area represents one of the largest vacant sites in common ownership in the Cromer and Dee Why area capable of residential renewal," SJB noted in the masterplan.

The architect said the proposal would particularly target housing diversity through townhouses and other "missing middle" typologies suitable for singles, young families, downsizers and retirees.

<img alt="Cromer" data-entity-type="file" data-entity-uuid="e3f5d841-8491-427e-8ada-c70d3d03d6bc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-24%20at%2011.21.02%E2%80%AFAM.png?VersionId=xTV7r.q8lrTzC9vKzMS9zMbjm9wKwhgm" />

The site emerged following the subdivision of the former Roche campus into eastern and western parcels.

EG has already transformed the western portion into the Northern Beaches Business Park, which incorporates heritage-listed office space, modern warehouses and indoor recreation facilities.

The proposed residential community, referred to as Cromer East in SJB's plans, adjoins established housing to the north, east and south-east, while the business park sits beyond the creek corridor to the west.

It is also within 250 metres of Pittwater House School and Northern Beaches Secondary College, while bus stops within a three-to-five-minute walk provide connections to Dee Why, Brookvale and express services to the Sydney CBD. Cromer Park and the South Creek open space corridor are also nearby.

EG acquired the broader 7.5-hectare former Roche campus in 2017 for $55 million through its Yield Plus Infrastructure Fund No. 2. The campus at the time comprised more than 25,000 sqm of industrial and office buildings set within landscaped grounds.

The current residential site represents the eastern portion of that original holding.

EG's investment strategy for the fund has centred on acquiring income-producing real estate with longer-term rezoning and repositioning potential, particularly assets benefiting from infrastructure and changing land-use patterns.

EG also has an established residential track record across Sydney, including Bosco in Five Dock, Tempo in Drummoyne, The Flour Mill in Summer Hill and Pindari in Randwick.

The developer says it has delivered more than 1,000 homes to date, with a further 3,000-plus residences across its development pipeline.

First look: EG plans 130 apartments on former Roche pharmaceutical campus in Cromer

<a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> has lodged plans for a $750 million, three-tower mixed-use precinct that would complete the long-running redevelopment of Carlton's former Carlton United Breweries site.

The proposal at <a href="https://www.apartments.com.au/new-apartments/185-195-queensberry-street-carlton-vic-3053">46-78 Bouverie Street and 185-195 Queensberry Street</a> spans a 6,468 sqm site, the last remaining undeveloped parcels within the former brewery's 2007 masterplan.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the development will comprise two purpose-built student accommodation towers and a third build-to-sell apartment tower above a shared commercial podium and basement.

Across the three towers, SP Setia is proposing 606 build-to-sell apartments and 1,499 student accommodation units containing 2,009 beds.

The apartments will sit in the tallest tower, which will rise nearly 200m and 55 storeys. It will become&nbsp;one of the more substantial new build-to-sell apartment projects at the northern edge of Melbourne's CBD.

The apartment mix is weighted toward smaller inner-city product, with 188 studios, 206 one-bedroom apartments, 192 two-bedroom apartments and 20 three-bedroom apartments

<img alt="First look: SP Setia plans three-tower finale for Carlton’s former CUB precinct" data-entity-type="file" data-entity-uuid="8271bc87-1b0a-41b7-ac73-a425ee375261" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/3_2.png?VersionId=G4lw23o90B1boX4k4dj7rdz2ZEajS9wy" />

Part of the precinct will be a large-scale&nbsp;3,684 sqm supermarket and a further 2,198 sqm of speciality retail, creating close to 5,900 sqm of new commercial space within the precinct.

But one of the biggest components of the proposal is what sits between the buildings.

Around 4,650 sqm, or roughly 72 per cent of the site, will be publicly accessible open space, incorporating plazas, pedestrian connections, landscaped laneways and retail spill-out areas.

The ground plane is intended to finally complete pedestrian connections envisaged when the CUB masterplan was first approved nearly two decades ago, stitching together Victoria Street, Queensberry Street, Bouverie Street and Swanston Street through the former brewery precinct.

Urbis said the development would "complete the CUB precinct", with the public realm providing important north-south and east-west connections through what is currently the final undeveloped portion of the masterplanned site.

SP Setia is also exploring a new linear park within the Bouverie Street road reserve, with the concept to be developed further with the City of Melbourne through the planning process.

The proposal is being pursued through the Victorian Government's Development Facilitation Program under Clause 53.23 for significant residential development with affordable housing.

The planning report acknowledges the proposed heights exceed those contemplated under the original Comprehensive Development Plan and masterplan, but argues the built-form context has changed considerably over the past two decades.

Urbis said the three towers would instead create a stepped transition between Carlton and the Hoddle Grid, rising progressively from the 94.1-metre Tower One along the Queensberry Street edge to the 199.44-metre Tower Three closer to the established CBD-scale buildings to the south.

<img alt="SP Setia" data-entity-type="file" data-entity-uuid="e885a07a-592c-40fc-bf82-e6dbaf32da54" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.52.24%E2%80%AFAM.png?VersionId=7s_ErUkSKAdY1mAWp3GRZgMNCGtwhk5m" />

SP Setia plans to deliver the development across three stages.

Stage One would deliver the basement, podium and retail areas for the entire precinct alongside the first student tower. Tower Two would follow in Stage Two, before the 606-apartment Tower Three is delivered as the final stage.

If approved and delivered, the project would close out a redevelopment process that has been underway since the former brewery masterplan was approved in 2007, adding more than 2,600 student beds and apartments to a precinct already home to Swanston Central, the Barak Building, RMIT Design Hub and several large student accommodation developments.

&nbsp;

&nbsp;

SP Setia plans three-tower finale for Carlton’s former CUB precinct

National Australia Bank (NAB) has brought forward the timing of the first RBA cash rate cut by three months.

NAB is now expecting a cut in February, in line with ANZ and Westpac, having initially thought a cut wouldn't come until May.

Commonwealth Bank, the nation's largest lender, still thinks the first cut will come in December.

NAB changed its call following the August monthly inflation figures that were released at the end of September, showing it had dropped to 2.7 per cent.

"The risk has been skewed to a first cut earlier in 2025, and today’s change acknowledges the balance of risks has likely shifted sufficiently for the RBA to feel comfortable cutting a little sooner than we earlier expected," NAB noted in its latest update.

They added that the cadence of the cuts may be faster than its central profile.

"Domestic inflation pressures are cooling, but only gradually, and we continue to expect the conditions for a cut will not be in place this year.

NAB believes the easing cycle will end at 3.1 per cent by early 2026, which is five cuts from the current 4.35 per cent cash rate.&nbsp;

CBA also thinks 3.1 per cent will mark the end of the cutting cycle, while Westpac is forecasting 3.35 per cent, and ANZ is the most pessimistic at 3.6 per cent, which would be just three interest rate cuts.

<h2>What would a rate cut in February look like for borrowers?</h2>

According to&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://link.mediaoutreach.meltwater.com/ls/click?upn%3Du001.IVvjJ-2BPT0A8C3VxtqKc6e3bj5hBuw27WFEYqovsYs7kPsgFulYrdOzeP8gI7CybJOya3_RgrM7qq-2BfK-2FtAHeRBLv5Qrb-2Bii5fzjLeKcP4w-2FkNgJPXygpiRhVUan3WV3QEggcf617UC8Z60RjQJZAqx7PiO7FtVJQSn0D46Zc3iTVP0kAhTTzG51cPpa5hrqz1OkSA-2BiXAxUajQ686MTtiseWBIdMdknd83aB7cOVgXlVTeHCGf3-2BcMHwfvI8TYlkUovqEhn4dj0KXf2eJGpb9-2BBv20hPXdLlPP9yD7DvFFDBM5yrTqxvcCiMfAsW1onD-2FcriL628eYdhNQE7bwzYrxcOYnmaYfRhGl-2FEHQ6eK2uQcLxs6Cbu6Dx0bYvpi5A6enmxMWU5TkcRYrP6Z8GbXZYtc5qSoKu6eWFBQR9K7fsjXwHMmby3D3X6Yx-2BxcDcdRruTG&amp;source=gmail&amp;ust=1727774368149000&amp;usg=AOvVaw2vK2ujS77CHs9VRvSSXzLC" href="https://link.mediaoutreach.meltwater.com/ls/click?upn=u001.IVvjJ-2BPT0A8C3VxtqKc6e3bj5hBuw27WFEYqovsYs7kPsgFulYrdOzeP8gI7CybJOya3_RgrM7qq-2BfK-2FtAHeRBLv5Qrb-2Bii5fzjLeKcP4w-2FkNgJPXygpiRhVUan3WV3QEggcf617UC8Z60RjQJZAqx7PiO7FtVJQSn0D46Zc3iTVP0kAhTTzG51cPpa5hrqz1OkSA-2BiXAxUajQ686MTtiseWBIdMdknd83aB7cOVgXlVTeHCGf3-2BcMHwfvI8TYlkUovqEhn4dj0KXf2eJGpb9-2BBv20hPXdLlPP9yD7DvFFDBM5yrTqxvcCiMfAsW1onD-2FcriL628eYdhNQE7bwzYrxcOYnmaYfRhGl-2FEHQ6eK2uQcLxs6Cbu6Dx0bYvpi5A6enmxMWU5TkcRYrP6Z8GbXZYtc5qSoKu6eWFBQR9K7fsjXwHMmby3D3X6Yx-2BxcDcdRruTG" target="_blank">Canstar</a>, if there is a cut in February, a borrower with a $600,000 loan today and 25 years remaining would see their monthly repayments drop by $92.&nbsp;

<table border="1" cellpadding="0" cellspacing="0">
	<tbody>
		<tr>
			<td colspan="3">
			Impact of 0.25% pt cut in February 2025
			</td>
		</tr>
		<tr>
			<td>
			Current loan size
			</td>
			<td>
			Drop in monthly repayment
			</td>
			<td>
			New monthly repayment
			</td>
		</tr>
		<tr>
			<td>
			$600,000
			</td>
			<td>
			-$92
			</td>
			<td>
			$3,907
			</td>
		</tr>
		<tr>
			<td>
			$750,000
			</td>
			<td>
			-$114
			</td>
			<td>
			$4,884
			</td>
		</tr>
		<tr>
			<td>
			$1M
			</td>
			<td>
			-$153
			</td>
			<td>
			$6,512
			</td>
		</tr>
		<tr>
			<td colspan="3">
			Source:&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://link.mediaoutreach.meltwater.com/ls/click?upn%3Du001.xWMOP9hChsvn-2BC9O-2FebBihXIZ4cEzbiuENdxm-2Bx3-2FYEEgYMhZlKWNj5Zzy1YZ56RuASD_RgrM7qq-2BfK-2FtAHeRBLv5Qrb-2Bii5fzjLeKcP4w-2FkNgJPXygpiRhVUan3WV3QEggcf617UC8Z60RjQJZAqx7PiO7FtVJQSn0D46Zc3iTVP0kAhTTzG51cPpa5hrqz1OkSA-2BiXAxUajQ686MTtiseWBIdMdknd83aB7cOVgXlVTeHCGf3-2BcMHwfvI8TYlkUovqEhn4dj0KXf2eJGpb9-2BBv20v2akwr6-2BqLyRrlEgkJ4J-2BCCyY0x189xEHZA4Ylf8c7ChBqNIkhmftZzoFuZKFn43pw3oJVg2o1gumrpdA-2B7MB-2FBtmL2rFCI-2FXORATQHySCLVOMg7Vywv-2BqnnQUAtDz6XkvpwxdHFXh70VwKazzhJsICilEYOvP4ju0sIfi5g6TL&amp;source=gmail&amp;ust=1727774368149000&amp;usg=AOvVaw2qVnp6oqATgqDUi2Frm22q" href="https://link.mediaoutreach.meltwater.com/ls/click?upn=u001.xWMOP9hChsvn-2BC9O-2FebBihXIZ4cEzbiuENdxm-2Bx3-2FYEEgYMhZlKWNj5Zzy1YZ56RuASD_RgrM7qq-2BfK-2FtAHeRBLv5Qrb-2Bii5fzjLeKcP4w-2FkNgJPXygpiRhVUan3WV3QEggcf617UC8Z60RjQJZAqx7PiO7FtVJQSn0D46Zc3iTVP0kAhTTzG51cPpa5hrqz1OkSA-2BiXAxUajQ686MTtiseWBIdMdknd83aB7cOVgXlVTeHCGf3-2BcMHwfvI8TYlkUovqEhn4dj0KXf2eJGpb9-2BBv20v2akwr6-2BqLyRrlEgkJ4J-2BCCyY0x189xEHZA4Ylf8c7ChBqNIkhmftZzoFuZKFn43pw3oJVg2o1gumrpdA-2B7MB-2FBtmL2rFCI-2FXORATQHySCLVOMg7Vywv-2BqnnQUAtDz6XkvpwxdHFXh70VwKazzhJsICilEYOvP4ju0sIfi5g6TL" target="_blank">www.canstar.com.au</a>. Starting rate is the RBA existing average owner-occupier variable rate of 6.36%. Assumes banks pass the cash rate cut on in full the month after the meeting.
			</td>
		</tr>
	</tbody>
</table>

Canstar Data Insights Director, Sally Tindall, says if core inflation continues to track in the right direction, or unemployment starts to accelerate significantly, we could well see a cash rate cut as early as February of next year.

“All four big banks now believe the RBA will be ready to cut the cash rate in just over four months’ time, if not before, in the case of CBA.

“However, the outlook for both inflation and unemployment is still highly uncertain. A couple of wobbly sets of inflation data could see the RBA holding for longer, particularly if unemployment remains relatively steady."

&nbsp;

Commonwealth Bank, the nation's largest lender, still thinks the first cut will come in December.

NAB bring forward first RBA cut to February 2025

<html><body>
Refinancing is an expensive process to get wrong, yet Australians haven’t quite yet mastered it. According to the CBA MFAA Home Finance Index (Sept. 2011), only 64% of borrowers who refinanced felt they had benefitted from the process.
Why? Ill-considered switching can result in costs that are greater than the interest rate saving that can be readily recouped within two years.


Secondly, some fall for the trap of refinancing to an account with lower levels of customer service or less flexible features.
Here are a few considerations to think about when refinancing, along with tips to succeed with the transition:


1. Exit fees
Variable home loans financed before July 2012 can suffer from hefty exit fees. It is worth crunching the true costs of exiting against the potential gain.



There are also early repayment fees and discharge fees to factor in.



2. Refinance after a fixed loan period

Due to the high break costs still charged on fixed interest loans, it usually isn’t worth refinancing until the fixed interest period on a loan ends.



3. Ongoing fees

Check the comparison rate, because it is a good indicator of the ongoing fees. The headline interest rate alone does not indicate the true ongoing value of a home loan. 4. Credit record

If a borrower’s credit record has worsened since the original home loan was approved, this will drive up the cost of borrowing and potentially negate the benefits of refinancing. MyCreditFile.com.au is a way for borrowers to access their free credit file report. 



Searching for ‘specialist home loans’ (industry parlance for bad credit home loans) and comparing interest rates on such products will give an indication if refinancing is worthwhile following credit blemishes.



5. Property valuation
Falling property values don’t affect the equity of home loan until refinancing is attempted. hether your home has changed in value



An increased valuation will work in your favour — reducing the interest premium due to your lower loan to value ratio. A decreased valuation can cost you an increased interest rate premium or even push you into <a target="_blank" href="https://www.homeloanfinder.com.au/lenders-mortgage-insurance">Lenders Mortgage Insurance (LMI)</a> territory. 



In addition, properties mid-renovation don’t value well, which makes refinancing mid-renovation challenging.



6. Entry fees &lt;!--[endif]--&gt;

Common refinancing costs include application fee, valuation fee, loan transfer fee, settlement fee and registration fee.



The showstopper is when a borrower's <a target="_blank" href="https://www.google.com/url?q=http%3A%2F%2Fwww.homeloanfinder.com.au%2Fborrowing-power%2Fcalculate-your-lvr&amp;sa=D&amp;sntz=1&amp;usg=AFQjCNH3-KFwL-esQ9J0O58fvs-YhcL_6A">Loan-to-Value Ratio</a> (LVR) is still greater than 80%, as <a target="_blank" href="https://www.homeloanfinder.com.au/lenders-mortgage-insurance">LMI </a>can be payable in full again. This can cost in excess of $10,000. 





Tips for refinancing: 1. Request your credit record

2. Get a private valuation of your property

3. Approach your current lender first

4. Do your sums for costs leaving and entering a new loan

5. Don’t refinance until your LVR drops below 80% — otherwise LMI is payable in full, again.

6. Consider what you need in the whole loan package, from loan rate, flexibility, extra credit and customer service.

7. In general, construction loans can help save on interest while renovating, as interest only starts to be accrued on the payment installments that are withdrawn. Where can you go to refinance?

- Your bank

- A <a target="_blank" href="https://www.homeloanfinder.com.au/">comparison website</a>

- A <a target="_blank" href="https://www.homeloanfinder.com.au/mortgage-broker">mortgage broker</a>



Adrian Barclay a personal finance expert from <a target="_blank" href="https://www.homeloanfinder.com.au/">HomeLoanFinder.com.au</a>
</body></html>

abarclay-WPE22ytcZC

Six things to consider before refinancing: Adrian Barclay

<html><body>
Bank of Melbourne has followed sister-bank St.George by cutting its two-year fixed rate to 4.99%.
It follows <a href="/news">ME Bank cutting its three-year fixed rate</a> to 4.99% and all the major banks cutting their two-year fixed rates to 4.99% in the last few weeks.
Bank of Melbourne replaced St.George as Westpac’s Victorian brand in March 2011.
The bank also cut its three, four and five year fixed-rate home loans today.
New customers as well as existing customers switching into a new fixed rate can access a 2-year fixed home loan rate of 4.99% p.a. under Bank of Melbourne’s advantage package, once the advantage discount of 0.15% per annum is applied.
The Bank of Melbourne also promise to beat any equivalent home loan rate advertised by the major banks on fixed or variable rates until March 31.
As an added incentive, customers looking to switch their home loan from another bank will also receive a $700 rebate under Bank of Melbourne’s advantage package.
Bank of Melbourne chief executive Scott Tanner said “countless Victorians” have already taken advantage of its promise to beat any advertised equivalent home loan rate being offered by the major banks.
The following fixed home loan rates under an Advantage Package are as follows, once the Advantage Package discount of 0.15% per annum is applied:
<table cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" width="140">
Old Rate
</td>
<td valign="top" width="132">
New Rate
</td>
</tr>
<tr>
<td valign="top" width="140">
1-year 5.39% per annum
</td>
<td valign="top" width="132">
5.15% per annum
</td>
</tr>
<tr>
<td valign="top" width="140">
2-year 5.29% per annum
</td>
<td valign="top" width="132">
4.99% per annum
</td>
</tr>
<tr>
<td valign="top" width="140">
3-year 5.39% per annum
</td>
<td valign="top" width="132">
5.29% per annum
</td>
</tr>
<tr>
<td valign="top" width="140">
4-year 5.79% per annum
</td>
<td valign="top" width="132">
5.64% per annum
</td>
</tr>
<tr>
<td valign="top" width="140">
5-year 5.79% per annum
</td>
<td valign="top" width="132">
5.69% per annum
</td>
</tr>
</tbody></table>
</body></html>

lschlesinger-FZcF9M3vE6

Bank of Melbourne cuts fixed rates with two-year offering reduced to 4.99%

<html><body>
ME Bank has cut its three-year fixed standard home loan rate to 4.99% p.a. on both packaged and non-packaged loans.
It is the first lender to cut its three-year fixed home loan rate below 5% - other lenders have all cut their less popular two-year fixed-rate offerings.
The new rate is 40 basis points below the lowest major bank three-year fixed rate of 5.39% offered by NAB.
The new three-year fixed rate, available to eligible super fund and union members, is currently the lowest in the market and the lowest ME Bank has offered since becoming a bank in 2001. 
The offer is available for a limited time.
“Now is an excellent time to fix rates,” said Jamie McPhee, ME Bank chief executive. 
“With rates at 30-year lows and signs global economies are improving there is limited scope for the Reserve Bank of Australia (RBA) to make further rate reductions.” 
“Therefore fixed rates – usually a good indicator of the future RBA cash rate – may not get much cheaper.”
 “It won’t get much better than this.”
 “When considering their decision to fix, borrowers should also think in terms of personal circumstances.”
“Fixing is like insurance: if your current circumstances mean higher rates put you under stress then fixing can be an important strategy - the trade off is reduced flexibility and there may be costs if you decide to exit early.” 
 
<table border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top">
 
</td>
<td width="69" valign="top">
MEB
</td>
<td width="69" valign="top">
WBC
</td>
<td width="69" valign="top">
CBA
</td>
<td width="69" valign="top">
NAB
</td>
<td width="69" valign="top">
ANZ
</td>
</tr>
<tr>
<td valign="top">
 
</td>
<td width="69" valign="top">
 
</td>
<td width="69" valign="top">
 
</td>
<td width="69" valign="top">
 
</td>
<td width="69" valign="top">
 
</td>
<td width="69" valign="top">
 
</td>
</tr>
<tr>
<td valign="top">
Three year fixed
</td>
<td width="69" valign="top">
4.99
</td>
<td width="69" valign="top">
5.49
</td>
<td width="69" valign="top">
5.44
</td>
<td width="69" valign="top">
5.39
</td>
<td width="69" valign="top">
5.44
</td>
</tr>
</tbody></table>
 
Table  – Non-packaged three year fixed home loan rates. Source: Infochoice 20/02/2013. 
</body></html>

ME Bank cuts three-year fixed to 4.99%

<html><body>
St George has cut its two-year fixed home loan by 30 basis points to 4.99% per annum - effective from today.
The rate is available for borrowers who sign up to St.George’s Advantage Package home loan offer and is for a limited time.
It joins the <a target="_blank" href="/news">major banks and fellow Westpac-brand RAMS</a> by offering a fixed-rate home loan under 5% as well as a number of non-bank and mutual lenders offering this rate or lower.
St George says it now offers the lowest fixed rates in the market compared with the major banks for two, three, four and five years under its Advantage Package with a three-year fixed rate of 5.29%, four-year fixed at 5.64% and five-year fixed a t 5.69%.
These new fixed home loan rates are available for a limited time for new customers, as well as for existing customers who would like to fix part, or all, of their current home loan.
Customers with fixed rate applications underway that have not yet settled are also eligible for these new lower interest rates.
St George is running a number of promotions to sign up new borrowers.
Until March 31, St George is offering to beat any advertised home loan rate offered by the four major banks, for new customers.
In addition, anyone who applies for a St George home loan receives a free Australian Property Monitors (APM) property profile report for the property they are interested in buying and its location.
St.George also offers conditional loan pre-approval that is valid for 6 months, as well as a low 5% deposit requirement to help customers get into their home sooner.
“We know that many customers like the security of having a set loan repayment each month, so fixed interest home loans are a very popular choice and can really help customers manage their personal finances more effectively. Customers also have the option to split their home loan between fixed and variable rates,” says Andy Fell, general manager for St George Retail Banking.
</body></html>

St George the latest to offer a two-year fixed rate of 4.99%

<html><body>
The Commonwealth Bank, NAB and ANZ have joined Westpac by offering a two-year fixed-rate home loan at 4.99%.
Unlike Westpac, the sub-5% offerings were not announced in press releases.
The Commonwealth Bank offers its two-year fixed rate of 4.99% under its wealth package offering with a comparison rate of 6.09%. For non-package Westpac customers, the two-year fixed rate is 5.14% (comparison rate of 6.29%).
NAB offers a two-year fixed home loan under its choice package offering at 4.99% with a comparison rate of  6.00%. For non-package NAB customers, the two-year fixed rate is 5.09% (comparison rate of 6.21%).
ANZ revealed its two-year fixed rate home loan of 4.99% in an update to mortgage brokers on February 13. The rate is available under its Breakfree package offering, which includes a 0.15% discount. A comparison rate on this loan is not provided.
Two-year fixed rates and three-year fixed rate home loans are the fixed-rate terms preferred by most fixed-rate borrowers.
Westpac cut its two-year <a target="_blank" href="https://www.propertyobserver.com.au/news/westpac-lead-the-big-banks-below-5-on-nfixed-home-loans/2013020659208">fixed rate to 4.99% on February 7</a>, joining a number of non-bank lenders who offer fixed-rates below 5%. The Westpac comparison rate is 6.27%
The lowest two-year fixed rate is 4.79% offered by online lender iMortgage under its fixed pro pack home loan with a comparison rate of 5.43%. iMortgage is the online lending arm of ASX-listed non-bank lender Homeloans Ltd.
</body></html>

Commonwealth Bank, NAB and ANZ match Westpac with 4.99% fixed rate package offerings

<html><body>
Reserve Bank board members noted a number of improvements in the housing market on the back of previous rate cuts when it decided to leave the cash rate on hold at 3% in February, according to the minutes of the February 5 monetary policy meeting released today.
The minutes suggest the RBA has adopted a wait-and-see approach on the impact 175 basis points cut from the cash rate since November 2011 will have on an already firming housing market and other non-mining sectors of the economy.
“While conditions remained soft in the construction industry, there were some signs that the housing market had firmed, partly due to the series of interest rate reductions over 2012," read the minutes.
“Notwithstanding month-to-month volatility, building approvals had increased since the middle of 2012, particularly in states other than Victoria, and prices and rental yields in the established housing market had also picked up."
In the December minutes – when the RBA cut the cash rate by 25 basis points to 3% - the RBA board that consumer sentiment had improved, “consistent with employment growth picking up to a moderate pace and better conditions in the housing market”.
The February 5 minutes note that following the December cash rate announcement, "most Australian lenders had reduced their standard variable housing rates by around 20 basis points.
"This reduction had brought the average interest rate on outstanding housing loans to well below its longer-run average and only a little above its 2009 low. Rates on small and large business loans were also close to their 2009 lows," read the minutes.
At the February meeting, RBA board members were also briefed on the GDP outlook, which is forecast to be a bit below trend at 2.5% over 2013, but also that "improving conditions in the housing market were expected to continue to provide support to dwelling investment, while non-mining business investment was expected to pick up gradually over time".
Apart from the weaker GDP outlook, the RBA board said housing finance remained relatively subdued, and indicators suggested that non-mining business investment would continue to be weak in the near term the negative side.
However, the minutes end with the RBA hinting at a wait-and-see approach noting that "interest rate sensitive parts of the economy had shown some signs of responding to these lower rates, which were well below their longer-run averages, and further effects could be expected over time".
"Noting that monetary policy was already accommodative as a result of the substantial easing of policy over the past 15 months, and that this stimulus was continuing to work its way through the economy, the Board judged that it was prudent to leave the cash rate unchanged at this meeting," concluded the RBA.
</body></html>

Housing market has firmed following rate cuts: RBA February minutes

<html><body>
Abacus Australian Mutuals has launched a campaign to change the face of banking in Australia.
The Balance Banking campaign is backed by consumer research showing banking competition is a major issue for Australian voters.
A poll of 1000 Australian voters, conducted by D&amp;M Research, revealed two out of three want an independent inquiry into the country's banking system.
Australians are angry about the dominance of the major banks. The Balance Banking campaign will lobby for change to address the imbalance in banking, through a national debate and independent review of our banking system.
In an election year, consumers are demanding politicians deliver a better banking deal for Australians.
The research also showed:
•             Almost 80% believe the big banks make excessive profits.
•             65% say there is not enough competition in the Australian banking system.
•             71% agree the big four banks have an unfair advantage in the mortgage market.
Our credit unions, building societies and mutual banks have 4.5 million customers - one in five Australians.
For us, Balance Banking means more competition in Australia's banking market, a level playing field for smaller players to take on the big four banks and ultimately more choice and better value for consumers.
Australians can join the campaign online and read the consumer research findings at the <a target="_blank" href="https://balancebanking.com.au/">Balance Banking website</a>.
The Balance Banking website is interactive and offers consumers the chance to have their say on Twitter and Facebook, sign up for regular newsletters, vote on website polls and make comments about their banking experiences.
Louise Petschler is CEO of <a target="_blank" href="https://www.abacus.org.au/">Abacus Australian Mutuals</a>.
</body></html>

lpetschler-ejbKsSN3hX

The imbalance in Australian banking must go

<html><body>
Bendigo and Adelaide Bank has further signalled the likelihood of banks cutting their variable mortgage rates independently of the RBA with its interim results showing a decrease in the cost of raising wholesale mortgage funding.
The bank launched its latest $850 million residential mortgage-backed securities (RMBS) offer, backed by prime residential mortgages, at 95 basis points above the one-month bank rate.
Bendigo and Adelaide Bank managing director Mike Hirst said this was the best-priced securitisation offer since the GFC.
In December, the bank priced RMBS at 110 basis points and in November they were priced at 135 basis points.
Under securitisation, a lender bundles together short-term funded mortgages into tranches and then sells the debt to institutional investors in offshore markets.
<img src="/images/stories/2013/02/bendigoFeb18chart.gif" width="470" height="205" alt="bendigoFeb18chart">
Hirst attributed the cheaper source of funding to ratings upgrades and a general market improvement, which had provided wholesale funding opportunities.
It follows the Commonwealth Bank pricing $400 million worth of AAA-rated RMBS at around 80 basis points over the three-month bank rate and Westpac placing $1.9 billion worth of Class A-1 notes RMBS at an 85-basis-point spread, both deals indicating that wholesale funding costs are easing up.
Alongside the improved funding scenario, Bendigo and Adelaide Bank reported a rise in profits and a “marked improvement” in both its net interest margin and cost to income ratio.
The bank reported an after tax statutory profit of $189.4 million for the 6-months ending December 31 December 2012, up 227% from $57.9% in the corresponding period in 2011.
Underlying cash earnings were $169.7 million, an increase of 4.4% on the prior corresponding period.
The net interest margin grew by 9 basis points to 1.83%, predominantly driven by mortgage repricing benefits.
“Importantly, funding costs have been easing throughout the half, which if maintained will continue to support the bank’s margins,” said Nomura banking analyst Victor German.
German said the interim results “reinforces the recent sector trend with mortgage re-pricing benefits combined with an easing in funding costs to result in improved retail margins”.
“Offsetting this, however, were a couple of specific credit quality issues which concern us, specifically its Queensland exposure (the bank has an arrears rate of 1.2% for mortgages more than 90 days in arrears, significantly higher than Bank of Queensland at 0.7%)  and the Great Southern [collapsed forestry group] portfolio, which resulted in increased bad and doubtful debt charges in the first half of 2013,” says German. In a class action which began in October, more than 20,000 investors are seeking to recover their money and set aside their obligations to repay loans taken from the Bendigo Bank to make their investments in Great Southern investment schemes. 
The bank announced an interim dividend of 30 cents per share, fully franked.
</body></html>

Bendigo and Adelaide Bank signals cheaper funding for new mortgages

<html><body>
Any Commonwealth Bank customer currently paying the Commonwealth Bank’s (or any major bank for that matter) standard variable rate of 6.4% is either an undesirable mortgage customer or a mug.
Such a conclusion can be drawn from comments made by Commonwealth Bank CEO Ian Narev to journalist questions at the bank's recent interim results briefing.
Asked by Channel Nine finance journalist Ross Greenwood why the bank published a standard variable rate when any customer “worth their salt” can get a 100 basis point discount, Narev responded that the standard variable rate was simply a “transparent benchmark” against which every individual home lending rate is set.
“So everybody's rate is relative to the standard variable rate. And I do not think there is any customers, I hope there is no customer who would say we have not been completely transparent to them about their rate.
“We describe it by reference to the benchmark rate, and that is the rate we talk about in the market. So it is very important for us indeed in terms of the legal framework in which we operate, it is very important that customers understand exactly what they are paying and it is something we are very focused on,” said Narev.
January mortgage approval figures compiled by Mortgage Choice, which writes one in 10 home loans in Australia, show that 20% of borrowers took out a standard variable mortgage over the month – one in five.
Logic would dictate that given the dominance of the Commonwealth Bank in mortgage lending (it has 25% of the market), there would be a significant proportion of borrowers paying the bank's standard variable rate as would the other major banks.
ANZ has a standard variable rate of 6.40%, NAB is at 6.38% and Westpac the highest at 6.51%.
Fairfax economic commentator Michael Pascoe told David Koch on Sunrise last week that variable mortgage holders should not be paying an annual interest rate of more than 5.5%.
During the media conference, Narev added that over the past 18 months the Commonwealth Bank had passed on more reductions to the standard variable rate than any other major bank.
Explaining the need for a standard variable rate, Narev said it was the structure under which the banking system operates and that all banks price to it.
“But we are still very keen to get good customers in a way that creates a fair price for them and value to our shareholders and that is something we are very focused on,” he said.
Commonwealth Bank chief financial officer David Craig said the bank was “sort of locked into having a standard variable rate because it is the legal baseline upon which all existing mortgages are priced”.
While Narev would not be drawn on whether the Commonwealth Bank would cut variable rates out of cycle of the RBA, he did hint that it was a possibility.
“I am not allowed to say anything in terms of future prospects on pricing. What I could say is that it is a competitive market and if we reach a different environment in terms of both the volatility and the cost of funding that is conceivable, [then] yes."
For borrowers looking for a little more transparency outside of the major banks, these are the lowest advertised variable and fixed mortgage rates based on listings on mortgage comparison websites <a href="https://www.ratecity.com.au/" target="_blank">ratecity.com.au</a>, <a href="https://mozo.com.au/" target="_blank">Mozo.com.au</a>,  <a href="https://www.infochoice.com.au/" target="_blank">infochoice.com.au</a> and <a href="https://www.homeloanfinder.com.au/">homeloanfinder.com.au</a> as of February 18:
Where the headline rate is the same, the lender with the lowest comparison rate gets preference.
Lowest variable rate offerings:
<table border="1" cellspacing="0" cellpadding="0" width="470"><tbody>
<tr>
<td valign="top" width="134">
Provider
</td>
<td valign="top" width="124">
Loan name
</td>
<td valign="top" width="97">
Rate
</td>
<td valign="top" width="116">
Comparison rate*
</td>
</tr>
<tr>
<td valign="top" width="134">
Easy Street
</td>
<td valign="top" width="124">
Honeymoon Home Loan Special
</td>
<td valign="top" width="97">
4.99%
</td>
<td valign="top" width="116">
5.77%
</td>
</tr>
<tr>
<td valign="top" width="134">
Loans.com.au
</td>
<td valign="top" width="124">
Blackboard Special
</td>
<td valign="top" width="97">
5.09%
</td>
<td valign="top" width="116">
5.12%
</td>
</tr>
<tr>
<td valign="top" width="134">
UBank
</td>
<td valign="top" width="124">
UHomeLoan for refinancing variable loan with a special upfront discount of 0.25%p.a.
</td>
<td valign="top" width="97">
5.12%
</td>
<td valign="top" width="116">
5.12%
</td>
</tr>
</tbody></table>
 Lowest one-year fixed-rate offerings
<table border="1" cellspacing="0" cellpadding="0" width="470"><tbody>
<tr>
<td valign="top" width="137">
Provider
</td>
<td valign="top" width="123">
Loan name
</td>
<td valign="top" width="95">
Rate
</td>
<td valign="top" width="114">
Comparison rate*
</td>
</tr>
<tr>
<td valign="top" width="137">
UBank
</td>
<td valign="top" width="123">
UHomeLoan for refinance fixed rate one year
</td>
<td valign="top" width="95">
4.83%
</td>
<td valign="top" width="114">
5.34%
</td>
</tr>
<tr>
<td valign="top" width="137">
Loans.com.au
</td>
<td valign="top" width="123">
Dream Loan Express - Fixed P&amp;I 1 year
</td>
<td valign="top" width="95">
4.89%
</td>
<td valign="top" width="114">
5.28%
</td>
</tr>
<tr>
<td valign="top" width="137">
Newcastle Permanent
</td>
<td valign="top" width="123">
Fixed rate home loan
</td>
<td valign="top" width="95">
4.94%
</td>
<td valign="top" width="114">
5.97%
</td>
</tr>
</tbody></table>
 
Lowest three-year fixed-rate offerings
<table border="1" cellspacing="0" cellpadding="0" width="470"><tbody>
<tr>
<td valign="top" width="131">
Provider
</td>
<td valign="top" width="131">
Loan name
</td>
<td valign="top" width="96">
Rate
</td>
<td valign="top" width="111">
Comparison rate*
</td>
</tr>
<tr>
<td valign="top" width="131">
homeloanHQ
</td>
<td valign="top" width="131">
Rate Lock Home Loan
</td>
<td valign="top" width="96">
4.99%
</td>
<td valign="top" width="111">
5.53%
</td>
</tr>
<tr>
<td valign="top" width="131">
eMoney
</td>
<td valign="top" width="131">
Pro Pack 75 – 3 Year Fixed Rate Home Loan
</td>
<td valign="top" width="96">
5.00%
</td>
<td valign="top" width="111">
5.67%
</td>
</tr>
<tr>
<td valign="top" width="131">
My mortgage freedom.com.au
</td>
<td valign="top" width="131">
Fixed Rate (LVR&lt;75%)
</td>
<td valign="top" width="96">
5.09%
</td>
<td valign="top" width="111">
5.62%
</td>
</tr>
</tbody></table>
*A comparison rate includes both the interest rate and the fees and charges relating to a loan, combined into a single percentage figure.
For information on refinancing, watch our free webinar <a href="/news">The Do's and Don’ts of Refinancing Your Existing Home Loan ... and How to Avoid Unnecessary Hurdles</a>.
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No one pays the 6.4% standard variable rate: Commonwealth Bank boss Ian Narev

<html><body>
The majority of economists expect the Reserve Bank to leave the cash rate on hold at 3% at its March 5 monetary policy meeting.
Of the 28 economists polled this week by Bloomberg, 20 except the cash rate to remain unchanged.
However, the major banks are divided on this issue with ANZ and Westpac tipping a rate cut to 2.75% and NAB and the Commonwealth Bank expecting the RBA to hold firm.
The other respondents tipping the cash rate to fall in March are all investment banks with a strong foreign flavour.
Joining Australia's Macquarie Bank forecasting a rate cut are French bank BNP Paribas, German bank Deutsche Bank, American banks Merrill Lynch and Goldman Sachs and Malaysian-based CIMB.
The majority of economists don’t expect a rate cut in April either (18 out of 28) while a small majority (17 out of 28) expect a rate cut in May.
Macquarie Bank and Goldman Sachs expect two rate cuts by May taking the cash rate to an all-time low of 2.5%.
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