Two more cut fixed rates

NAB and St George have joined AMP, CBA, ANZ, Wizard, Aussie and Westpac in large cuts to fixed-rate home loan rates. NAB cut its two-year fixed rate by 0.4 per cent to 5.9 per cent on June 20. St George Bank also reduced its two-year fixed rate to 5.89 per cent. Lenders have dropped rates in anticipation of the Reserve Bank cutting rates by 0.25 per cent in July or August and a further 0.25 per cent later in 2003.