So far eight lenders have confirmed they will be passing on the full 0.25% cut to all their variable rate customers.
Just four of these lenders – RACQ, Athena, Homestar Finance and Newcastle Permanent – passed on the full cut the month before.
The average home loan rate cut to be passed on in July is currently around 0.22%, as several lenders opt to pass on less than they did in June including CBA, NAB, ING, Macquarie Bank and Suncorp.
| Lender | July rate change | Date effective | June cut (for owner occupied) | New lowest ongoing variable rate |
| ANZ | 0.25% | 12-Jul | 0.18% | 3.38% |
| Athena | 0.25% | 2-Jul | 0.25% | 3.09% |
| Aussie | Up to 0.20% | From 18 July | 0.25% | TBA |
| Bank of Melbourne | 0.20% | 16-Jul | 0.20% | 3.39% |
| BankSA | 0.20% | 16-Jul | 0.20% | 3.39% |
| Bankwest | 0.19% | 23-Jul | 0.25% | 3.70% |
| CBA | 0.19% | 23-Jul | 0.25% | 3.35% |
| Firstmac | 0.25% | 26-Jul | 0.20% | 3.53% |
| Greater Bank | Up to 0.25% | 29-Jul | 0.25% | 3.32% |
| Homestar Finance | 0.25% | 2-Jul | 0.25% | 2.99% |
| ING | 0.20% | 18-Jul | 0.25% | 3.14% |
| Loans.com.au | 0.25% | 26-Jul | 0.20% | 3.03% |
| Macquarie Bank | 0.20% | 18-Jul | 0.25% | 3.24% |
| ME Bank | 0.15% | 23-Jul | 0.25% | 3.39% |
| NAB | 0.19% | 12-Jul | 0.25% | 3.35% |
| Newcastle Permanent | 0.25% | 29-Jul | 0.25% | 3.24% |
| RACQ | 0.25% | From 8 July | 0.25% | 3.19% |
| RAMS | 0.20% | 16-Jul | 0.20% | 4.01% |
| Reduce | Up to 0.22% | 2-Jul | Up to 0.25% | 2.89% |
| Resimac | 0.25% | 24-Jul | Various | 3.21% |
| St George | 0.20% | 16-Jul | 0.20% | 3.38% |
| State Custodians | Up to 0.25% | 24-Jul | N/A | N/A |
| Suncorp | 0.19% | 19-Jul | 0.20% | 3.30% |
| The Mutual | Up to 0.20% | 19-Jul | 0.25% | TBA |
| Westpac | 0.20% | 16-Jul | 0.20% | 3.58% |
Keep across the changes with RateCity.com.au’s live list of who is cutting, by how much and when.
RateCity.com.au research director Sally Tindall said: “The RBA has made it clear further reductions to the cash rate could be needed, but banks are increasingly finding it difficult to pass these cuts on to their home loan customers in full.
“They’re juggling depositors, borrowers and shareholders in what is becoming an increasingly difficult equation.
“A lot of lenders are taking their time to consider their options following this most recent cut.
“If the cash rate falls any further, an increasing number of savings accounts are likely to hit 0.00% interest.”
