Macquarie cuts variable mortgage rates: How it compares to the Big 4One of Australia's largest lenders has taken a knife to its advertised variable home loan rates, dropping them to as low as 5.34% p.a. Macquarie Bank lowered advertised interest rates on the majority of its variable home loans by five basis points on Friday. Macquarie Bank's new variable mortgage rates for owner-occupiersFollowing Friday's rate cut, the major's advertised variable rates now start at 5.34% p.a. While Macquarie's new variable rates are some way from the lowest in YourMortgage.com.au's database – currently 4.89% p.a. AdvertisementImportant Information and Comparison Rate WarningImportant Information and Comparison Rate Warning