Fixed rates fall well below variable

More falls in fixed interest rates for home loans could be on the way. Westpac has cut its rate to 6.69 per cent, following lenders such as Adelaide Bank (at 6.5 per cent), Bank West (6.75 per cent) and Resi Mortgage (6.77 per cent). Nicholas Gruen, chief executive of Peach Home Loans says “borrowers can take their time, because if that's the trend, it's not going to turn around in a hurry.”

Advertisement