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Small lenders cut fixed rates

18/08/2010

Aussie Home Loans announced a big cut to three year fixed rates of 35 basis points to 6.99 per cent, making Aussie’s three year fixed home loans the lowest in the market. CEO Stephen Porges said “Our price cut will reinvigorate much needed competition in the home loan market,” he said. Aussie’s move follows National Mortgage Company and ING DIRECT who both moved on fixed rates last week.


National Mortgage Company cut fixed rates on two and three year home loans to 7.60 per cent. ING DIRECT also reduced its two and three year fixed rates to 7.09 per cent.

Source: The Advisor



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