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More rate cuts for fixed rate loans

Discussion in 'Real Estate' started by Tropo, 9th Jul, 2010.

  1. Tropo

    Tropo Well-Known Member

    Joined:
    17th Aug, 2005
    Posts:
    3,394
    Location:
    NSW
    09/07/2010
    The average two-year fixed rate of the big four is currently 7.3 per cent. Westpac-owned St George Bank lowered the interest rate on its two-year fixed rate mortgage to 7.14 per cent from 7.54 per cent yesterday.
    Community CPS cut rates on all of its fixed-year mortgages by between 5 and 15 basis points. ANZ Bank, AMP, Commonwealth Bank, CBA-owned BankWest, ME Bank, St George-parent Westpac and mecu have also cut fixed rate loans in recent weeks.

    Source: Sydney Morning Herald
     
  2. Chris C

    Chris C Well-Known Member

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    2nd Apr, 2008
    Posts:
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    Location:
    Brisbane, QLD
    Are they sensing a top in the interest rate cycle and looking to lock in a few customers?