Which lenders have cut mortgage rates?

The Reserve bank of Australia cut official interest rates on Tuesday by 0.25 per cent to 2.25 per cent.

Commonwealth Bank, Westpac, ING Direct, Bank of Queensland and ME Bank have announced rate cuts in response to the move from the central bank.

Other lenders to cut rates include IMB which has a new variable rate of 5.41 per cent.

Greater Building Society has cut its standard variable rate to 5.25 per cent, the basic rate to 4.89 per cent and the package rate to 4.69 per cent.

Loans.com.au cut its variable rate to 4.23 per cent. Maitland Mutual Building Society also cut by 0.25 percentage points.

Source: Banking Day

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