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More rate cuts for fixed rate loans

09/07/2010

The average two-year fixed rate of the big four is currently 7.3 per cent. Westpac-owned St George Bank lowered the interest rate on its two-year fixed rate mortgage to 7.14 per cent from 7.54 per cent yesterday. Community CPS cut rates on all of its fixed-year mortgages by between 5 and 15 basis points. ANZ Bank, AMP, Commonwealth Bank, CBA-owned BankWest, ME Bank, St George-parent Westpac and mecu have also cut fixed rate loans in recent weeks.

Source: Sydney Morning Herald



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