Tag: fixed rate mortgage
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Customer-Owned Banks Offer Fixed Home Loan Rates Below 5%
Interest rates on fixed home loans continue to decline as customer-owned banks in Australia are offering rates below 5%. This trend reflects the broader market expectation of further rate cuts. Regional Australia Bank, for instance, has unveiled a 4.98% p.a. fixed rate for owner-occupiers with loan-to-value ratios below 70%, making principal and interest repayments and…
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Recent Australian Mortgage Rate Adjustments Reflect Economic Shifts
This past week witnessed subtle yet noteworthy movements in the Australian mortgage market, with several lenders adjusting their rates. Canstar’s recent rate update revealed that five lenders reduced their variable rates by an average of 0.07%, while two others made cuts to 28 fixed rates by an average of 0.17%. The Australian Guide to Buying…
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Australian Lenders Slash Rates, Fueling Home Loan Market Competition
Australia’s home loan market witnessed a significant wave of rate cuts recently, with 31 lenders reducing 306 owner-occupier and investor variable rates by an average of 0.27%, according to the latest Weekly Rate Wrap-up by Canstar. Additionally, 11 lenders made cuts to 279 fixed rates, with an even more substantial average reduction of 0.85%. The…
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Home Loan Rates Fluctuate Amid Lender Competition in Australia
Australia’s home loan market experienced fluctuations this week, with various lenders adjusting their rates, both upwards and downwards. According to Canstar’s Weekly Rate Wrap-up, BankVic raised two variable rates, while Illawarra Credit Union increased the fixed rate on one of its loans. On the other hand, four lenders reduced 44 fixed rates for owner-occupiers and…
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Home Loan Market Competition Intensifies Amid Anticipated Rate Cuts
Competition in the home loan market is intensifying as lenders gear up for the Reserve Bank’s upcoming board meeting, where a 0.25% interest rate cut is widely anticipated. With economists predicting this rate cut, many borrowers are already benefiting from reduced rates, with over two dozen lenders slashing their fixed rates in recent weeks. The…
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ANZ Leads Rate Cuts in Competitive Mortgage Market
ANZ has recently made significant reductions in its fixed mortgage rates for both owner-occupiers and investors, just ahead of the Reserve Bank of Australia’s upcoming monetary policy announcement. The bank has lowered its fixed rates by up to 0.40 percentage points for owner-occupiers and up to 0.45 percentage points for investors. This move positions ANZ…