Five year fixed rates at record lows

NAB has cut its five-year fixed-rate home loan by 0.29 percentage points to 5.55 per cent under its package home loan. This is NAB’s lowest five-year fixed-loan rate in 20 years.

The Commonwealth Bank offers a packaged five-year fixed rate home loan at 5.69%. Westpac’s packaged five year offer is at 5.79%. ANZ’s five year package deal is at 5.84%.

Borrowers who take out a five-year fixed-rate will be punting on rates rising over the next five years.

Source: Property Observer