Median interest rate changes and payments
DVA reviews the median interest rate used to calculate the DHOAS subsidies on the 10th last business day of each month.
If the rate changes, the subsidy payment deposited into your DHOAS home loan the following month will change.
You can calculate the median rate yourself by reviewing the list of standard variable home loan interest rates listed at www.cannex.com.au and identifying the median interest rate.
This can be done with the excel formula "Median", or by listing the rates from the lowest to the highest and selecting the interest rate positioned in the middle.
For the purpose of calculating the DHOAS subsidy, the maximum median interest rate that can be applied is capped at 8.95%. Under this maximum, the median interest rate used can fluctuate and impact on monthly payment amounts.
Please note, interest rates are NOT capped at the rate they are when you take out your loan. The median interest rate is capped at 8.95% for all DHOAS home loans, regardless of when they've been drawn down.
Interest rate changes - 2008-09 subsidy tier limits
MONTH | INTEREST RATE | TIER 1 | TIER 2 | TIER 3 |
2008 | ||||
|---|---|---|---|---|
| July | 8.95% | $352 | $529 | $705 |
| August | 8.95% | $352 | $529 | $705 |
| September | 8.95% | $352 | $529 | $705 |
| October | 8.54% | $333 | $499 | $666 |
| November | 7.74% | $295 | $443 | $591 |
| December | 6.89% | $257 | $386 | $514 |
2009 | ||||
| January | 6.65% | $246 | $369 | $493 |
| February | 6.2% | $226 | $340 | $453 |
| March | 5.7% | $205 | $308 | $410 |
| April | 5.65% | $203 | $305 | $406 |
| May | 5.59% | $200 | $301 | $401 |
| June | 5.56% | $199 | $299 | $399 |
| July | 5.57% | $199 | $299 | $399 |
| August | 5.57% | $199 | $299 | $399 |
| September | 5.58% | $200 | $300 | $400 |
| October | 5.65% | $203 | $305 | $406 |
| November | 5.95% | $216 | $324 | $432 |
| December | 6.23% | $228 | $342 | $456 |
| 2010 | ||||
| January | 6.32% | $232 | $348 | $464 |
| February | 6.34% | $232 | $349 | $465 |
| March | 6.50% | $239 | $359 | $479 |
| April | 6.71% | $249 | $373 | $498 |
| May | 7.00% | $262 | $393 | $524 |
| June | 7.10% | $266 | $399 | $533 |
| July | 7.115% | $267 | $400 | $534 |
| August | 7.095% | $266 | $399 | $532 |
| September | 7.09% | $266 | $399 | $532 |
| October | 7.09% | $266 | $399 | $532 |
| November | 7.2% | $271 | $406 | $542 |
| December | 7.35% | $277 | $416 | $555 |
| 2011 | ||||
| January | 7.34% | $277 | $416 | $554 |
| February | 7.34% | $277 | $416 | $554 |
| March | 7.34% | $277 | $416 | $554 |
| April | 7.295% | $275 | $413 | $550 |
| May | 7.3% | $275 | $413 | $551 |
| June | 7.29% | $275 | $412 | $550 |
| July | 7.28% | $274 | $412 | $549 |
August September October November December January 2012 | 7.29% 7.3% 7.3% 7.14% 6.95% 6.85% | $275 $275 $275 $268 $259 $255
| $412 $413 $413 $402 $388 $383 | $550 $551 $551 $536 $519 $510 |
Interest rate changes - 2009-10 subsidy tier limits
MONTH | INTERESTRATE | TIER 1$171,629 | TIER 2$257,444 | TIER 3$343,258 |
2009 | ||||
|---|---|---|---|---|
| July | 5.57% | $183 | $274 | $366 |
| August | 5.57% | $183 | $275 | $366 |
| September | 5.58% | $183 | $275 | $367 |
| October | 5.65% | $186 | $279 | $372 |
| November | 5.95% | $198 | $297 | $396 |
| December | 6.23% | $209 | $313 | $418 |
2010 | ||||
| January | 6.32% | $212 | $319 | $425 |
| February | 6.34% | $213 | $320 | $427 |
| March | 6.50% | $220 | $330 | $440 |
| April | 6.71% | $228 | $342 | $457 |
| May | 7.00% | $240 | $360 | $480 |
| June | 7.10% | $244 | $366 | $488 |
| July | 7.115% | $245 | $366 | $488 |
| August | 7.095% | $244 | $366 | $488 |
| September | 7.090% | $244 | $366 | $488 |
| October | 7.09% | $244 | $366 | $488 |
| November | 7.2% | $248 | $372 | $497 |
| December | 7.35% | $254 | $382 | $509 |
| 2011 | ||||
| January | 7.34% | $254 | $381 | $508 |
| February | 7.34% | $254 | $381 | $508 |
| March | 7.34% | $254 | $381 | $508 |
| April | 7.295% | $252 | $378 | $505 |
| May | 7.3% | $252 | $379 | $505 |
| June | 7.29% | $252 | $378 | $504 |
| July | 7.28% | $251 | $377 | $503 |
August September October November December January 2012 | 7.29% 7.3% 7.3% 7.14% 6.95% 6.85% | $252 $252 $252 $246 $238 $234 | $378 $379 $379 $369 $357 $351 | $504 $505 $505 $492 $476 $468 |
Interest rate changes - 2010-11 subsidy tier limits
MONTH | INTERESTRATE | TIER 1$197,773 | TIER 2$296,659 | TIER 3$395,546 |
2010 | ||||
|---|---|---|---|---|
| June | 7.10% | $281 | $422 | $563 |
| July | 7.1153% | $282 | $423 | $564 |
| August | 7.095% | $281 | $422 | $562 |
| September | 7.09% | $281 | $421 | $562 |
| October | 7.09% | $281 | $421 | $562 |
| November | 7.2% | $286 | $429 | $572 |
| December | 7.35% | $293 | $440 | $587 |
2011 | ||||
| January | 7.340% | $293 | $439 | $586 |
| February | 7.340% | $293 | $439 | $586 |
| March | 7.340% | $293 | $439 | $586 |
| April | 7.295% | $291 | $436 | $582 |
| May | 7.300% | $291 | $436 | $582 |
| June | 7.29% | $290 | $436 | $582 |
| July | 7.28% | $290 | $435 | $580 |
August September October November December January 2012 | 7.29% 7.3% 7.3% 7.14% 6.95% 6.85% | $290 $291 $291 $283 $274 $269 | $435 $436 $436 $425 $411 $404 | $580 $582 $582 $567 $549 $539 |
Interest rate changes - 2011-12 subsidy tier limits
MONTH | INTERESTRATE | TIER 1$203,239 | TIER 2$304,859 | TIER 3$406,478 |
2011 | ||||
|---|---|---|---|---|
| June | 7.29% | $298 | $448 | $597 |
| July | 7.28% | $298 | $447 | $596 |
August September October November December January 2012 | 7.29% 7.30% 7.3% 7.14% 6.95% 6.85% | $298 $299 $299 $291 $282 $277 | $448 $448 $448 $437 $423 $416 | $597 $598 $598 $582 $564 $554 |
Interest rate changes - $80,000 subsidy tier limit
MONTH | INTERESTRATE | SUBSIDISEDLOAN LIMIT$80,000 |
2010 | ||
| July | 7.115% | $114.24 |
| August | 7.095% | $113.86 |
| September | 7.09% | $113.76 |
| October | 7.09% | $113.76 |
| November | 7.2% | $115.88 |
| December | 7.35% | $118.78 |
2011 | ||
| January | 7.35% | $118.58 |
| February | 7.35% | $118.58 |
| March | 7.35% | $118.58 |
| April | 7.295% | $117.71 |
| May | 7.3% | $117.81 |
| June | 7.29% | $117.62 |
| July | 7.28% | $117.42 |
August September October November December January 2012 | 7.29% 7.3% 7.3% 7.14% 6.95% 6.85% | $117.62 $117.81 $117.81 $114.72 $111.08 $109.17 |