Interest Rate Cuts To Benefit Borrowers

An increase in market positivity across the State and some of the lowest home loan interest rates ever offered means it is an ideal time to jump off the rental roundabout and into your own home according to industry experts.

Queensland Country Credit Union has this week announced their lowest ever home loan interest rate - a one year fixed home loan rate of 2.99% p.a. with a comparison rate of 3.94% p.a. The new interest rate is in response to RBA interest rate cuts and market activity, and compliments an existing 3.39% p.a. Variable Rate (Comparison Rate of 3.76% p.a.) offer under the Ultimate Home Loan Package. The variable rate offer gives borrowers security about the future by guaranteeing a 1.35% discount off the Standard Variable Rate for the entire life of the loan.

Queensland Country CEO, Aaron Newman says the favourable interest rates mean it is the ideal time to purchase a home. 

“When you compare the average weekly rental price against the average home price in our repayment calculator, paying a mortgage compares favourably to renting,” says Newman.

“It’s certainly worth coming into one of our Branches to chat about your options, and because we treat every loan application individually, we can guide you on the best option of a fixed or variable interest rate to suit your goal and monthly payment plan.”

The New Car Loan rate has been reduced from 5.99% p.a. to 4.99% p.a. with a Comparison Rate of 5.59%.  Queensland Country Credit Union are one of the few lenders who make the New Car Loan available on vehicle up to three years old, which gives consumers greater freedom in choosing a vehicle that suits their needs and budget.