Following the change, HSBC’s Home Value owner occupied principal and interest will be 3.47% p.a.* (comparison rate 3.48% p.a.), making it one of the most competitive rates available in the market.
All variable rate reductions are effective from 17 June 2019.
An HSBC Australia spokesperson said:
"With one of the lowest variable home loan rates available in the market, our priority is to continue to offer homebuyers greater choice and affordability, backed by exceptional customer service.
“With rates now at historically low levels, we encourage customers to speak with us in branch, on the phone or via one of our broker partners about their home buying ambitions.”
* New borrowings, Terms and Conditions apply.