CBA has cut its fixed rates overnight in a bid to 'raise the stakes' with its major competitors.
Its one, three, four and five year fixed mortgage rates will be cut between 10 and 40 basis points.
At 6.14%, its four and five year rates are now at their lowest level in nine years, after being cut by 30 and 40 basis points respectively to 6.14%
One, and three-year fixed rates were cut by 10 basis points each, bringing these rates down to three-year lows at 5.74%
The new rates will be available for new customers, or those switching to fixed rate loans.