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Major slashes fixed rates to nine-year low

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Australian Broker | 07 Sep 2012, 09:00 AM Agree 0
A major bank has dealt drastic cuts to its suite of fixed rate products in a move it says is designed to 'raise the stakes' for its competitors
  • Brisbane Borker | 07 Sep 2012, 09:43 AM Agree 0
    Where is cost of funding now?????????????
  • Allan Faint | 07 Sep 2012, 09:49 AM Agree 0
    obviously the previous price gouges were to fund either record profits of these fixed rate drops if neccessary.
  • Kevymac | 07 Sep 2012, 09:59 AM Agree 0
    fixed rates are not set against the RBA
  • terry | 07 Sep 2012, 10:09 AM Agree 0
    Thats exactly right Kevyman. but neither are the variable if you believe the spin from the banks and their out of cycle rate changes.
  • Shepparton Broker | 07 Sep 2012, 10:10 AM Agree 0
    Rates hit 4.99% for 5 years fexed in Feb 2008 from westpac. We are not in a 9 year low.
  • Mat | 07 Sep 2012, 10:42 AM Agree 0
    Here's a link to a chart of 3 year bonds, which I use as a lead indicator of where bank 3 year fixed rates are going. I've found lenders move a week or two after any big changes on this chart. http://www.bloomberg.com/quote/GACGB3:IND
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