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HOW MUCH WILL YOU SAVE?

Should your lender pass on, in full, the Reserve Bank of Australia's quarter of a percentage point interest rate cut, this is how much you will save every month.

For a $300,000 loan: repayments would fall by $46 to $1,633.

For a $400,000 loan, they drop by $62 to $2,177.

For a $500,000 mortgage, repayments slip by $78 to $2,721.

For a $600,000 debt, repayments would fall by $92 to $3,266. 

For a $700,000 mortgage, servicing falls by $108 to $3,810. 

That's based on a lower standard variable rate of 5.12 per cent for owner-occupiers paying off principal and interest. 

Australia's median capital city house and apartment price stands at $592,135. With a 20 per cent deposit factored in, that means median loans in the current market stand at $473,708.

In Sydney, where median house prices stand at $869,579, a borrower would be paying off $695,663.

Sources: Commonwealth Bank of Australia, Core Logic 

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