Aussie Home Loans cuts fixed rates by up to 0.35 per cent
Aussie Home Loans decreased its one-year fixed interest rate below its standard variable rate today. The one-year fixed rate has fallen to 6.30 per cent from 6.50 per cent, while the standard variable rate stays at 6.45 per cent. Aussie's fixed rates are now amongst the lowest of any Australian mortgage lender, following this week's rate reductions. The changes are effective from today, July 26th, 2002.
Managing director John Symond said that if home buyers want predictable repayments and to avoid any rate increase by the Reserve Bank in the near future they should now consider fixing their mortgages at Aussie's new one-year rate.
Aussie's new fixed rates are: one year 6.30 per cent (old rate 6.50); two years 6.65 per cent (6.95); three years 6.80 per cent (7.10); four years 7.00 per cent (7.30); five years 7.00 per cent (7.35).