CBA cuts rates by 0.4%

THE Commonwealth Bank this morning cut 40 basis points from its standard variable home loan rate.

While the move will come as a welcome relief for the bank's home loan customers, it is still 10 basis points less than the Reserve Bank of Australia's 0.5% cut to the cash rate on Tuesday.

The Commonwealth's variable rate will drop to 7.01% from May 11. The cut will not apply to business loans and credit cards. The bank says it is reviewing its rates on other products, including savings accounts.

It means two of the big four banks have reduced their variable rates since Tuesday.

NAB cut its variable rate by 0.32%, effective tomorrow.

The bank decided to cut 50 basis points from its online savings account to 5%, while it also trimmed 0.25% from its credit card interest rates.

ANZ will review interest rates when it meets on May 11. The bank announced a $2.9 billion half-year profit on Wednesday.

Westpac is yet to announce whether it will cut it interest rates. The bank also announced a near $3 billion half-year profit this morning.

Bank of Queensland was the first lending institution to pass on some interest rate relief - a 0.35% cut - following the RBA's decision.

Topics:  commonwealth bank interest rates reserve bank

Creativity on the Tweed

Room One Collective store owner Arlia Hassell with some of her hand made wares.

This unique store offers a chance to sparkle

Lunch dishes up support for needy

LUNCH IS SERVED: Gerard Robinson (Tweed Heads Bowls Club), Dennis Pommer (Lunch with Friends), volunteers Stacey Foster and Liz Hey serve up a meal with all the trimmings in Goodwin Park, Coolangatta, on Tuesday.

Initiative to feed homeless and marginalised marks 24,000th meal.

BREAKING: Gable Tostee found not guilty of murder

Gable Tostee

Gable Tostee found not guilty of murder or manslaughter.

Local Partners

Lunch dishes up support for needy

A decade-long partnership between two Tweed Heads institutions has delivered its 24,000th meal to the needy in Coolangatta's Goodwin Park.

Barry Gibb is coming to Bluesfest 2017

FANS: Barry Gibb talks to a fan next to a cardboard cutout of his young self.

Aged 70, Gibb has re-launched his solo music career with a new album

Declan Kelly and the Rising Sun to shine bright at festival

Declan Kelly & The Rising Sun is one of the headlining acts at this year's festival.

Main stage set to pump with radiant reggae and dub vibes

Expert's talk on Olley's life is not to be missed

THE ARTIST: Artist Margaret Olley at the Tweed Regional Art Gallery in 2006.

RARE insight into the life of one of most cherished hoarders

The Bachelorette: Courtney too slow for Georgia's love train

Courtney Dober in a scene from The Bachelorette.

FORMER favourite eliminated after introducing Georgia to his family.

Shaynna'a blazing a stylish trail on television

Shaynna Blaze hosts the new TV show Deadline Design.

SHE'S the designer with no less than three shows on ours screens.

Ciara felt "empowered" after losing her baby weight


The 'I Bet' hitmaker was glad to drop the 60 pounds

Kim Kardashian West had tape tied around head in hold-up

Kim Kardashian West

"One of the gang kept telling her to shut up."

Madonna's filthy poll vow to Hillary Clinton supporters


It's probably not the endorsement that Hillary Clinton wanted

What's on the big screen this week

Tom Cruise in a scene from the movie Jack Reacher: Never Go Back.

TOM Cruise returns to kick some butt as Jack Reacher.

Cherrabah's mega resort plans axed

PLANS for a massive development at Cherrabah have been scrapped.

Dusit Thani finance crisis 'just a small hiccup'

ON TRACK: Springfield Land Chairman, Maha Sinnathamby, Ipswich Mayor Paul Pisasale, Developer Richard Turner and Springfield Land Deputy Chairman, Bob Sharpless, at the recent resort sod turning ceremony.

Property developer says project remains firmly on track

Heavyweight enters real estate market

Des Besanko principal and director of Raine and Horne Springfield.

Major rebranding which has seen two big name brands merge

Bank could add towns to 'high-risk' home loan list

Suburban housing in Glenvale, Toowoomba, Friday, October 17, 2014. Photo Kevin Farmer / The Chronicle

NEW Gladstone region towns could be added unwanted bank list.

Tenants renting rooms on Airbnb breaching lease

Rental properties.

Tenants renting rooms on Airbnb is a no no

Room to eat, play and love

Real Estate :- 104 Botanical Crt, Banora Point.

Check out this beautiful Banora Point property.