Since lifting their variable home loan rates by 25 basis points earlier this month, three of the big banks have launched more sharply priced offers to attract new borrowers.
According to comparison site RateCity, ANZ has cut the rate on its Simplicity Plus loan by 15 bps to 2.29 per cent for new borrowers.
Meanwhile, owner occupiers paying principal and interest on an ANZ standard variable rate loan had their index rate increase from 4.39 per cent to 4.64 per cent on May 13.
Last week, Commonwealth Bank launched a new digital home loan, Unloan, with an owner occupier variable rate of 2.14 per cent. The product includes a loyalty discount of 1 basis point every year, up to 30 years.
The bank’s owner occupier principal and interest standard variable rate rose 25 bps to 4.8 per cent.
Also last week, Westpac offered a two-year honeymoon rate of 2.09 per cent, compared with its Rocket Repay package rate of 3.54 per cent.