CUA slashes variable and fixed rates

CUA will cut rates across both its fixed and standard variable home loan (SVHL) product suites, with CUA Rate Breaker Package rate changes effective from 17 May and all other rate changes effective from 20 May 2013.

Following the Reserve Bank of Australia’s decision to reduce the official cash rate to 2.75%, CUA has cut its SVHL rate by 25 basis points to a highly competitive 5.60% – an average of 57 basis points (BP) lower than the average of the big fours’ SVHL rates.

CUA has reduced its three-year fixed rate home loan by 11 basis points to 4.99% and has also cut its three-year fixed rate premium home loan to 5.30%.

CUA’s Rate Breaker Package, which discounts its variable home loan rate by 100 BP to the advertised average of the big four’s SVHL rate, will reduce to 5.17%.

Source: CUA