ANZ cut their fixed mortgage rate again

ANZ bank has made further cuts to its mortgage rate by lowering the interest rate in fixed mortgages by another 0.14 percent to 0.7 percent if you take out a loan for up to four years. If you decide on a fixed rate mortgage with ANZ then they will be offering the extra cuts from Monday October 20.

Looking at ANZ foxed mortgage rates cumulatively they have dropped 1.5 percent over the past week. It was only last week that ANZ announced they were dropping the fixed mortgage rates down between 0.5 percent and 0.8 percent and these drops took effect from Monday 13. The 0.8 percent cut applied to fixed rate loans of 5 to 10 years whilst the 0.5 percent cut applied to fixed rate loans of up to 5 years.

National Bank of Australia (NAB), Commonwealth Bank of Australia and Westpac all dropped mortgage rates over the past week.

Source: news.com.au

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