Major slashes fixed rates to nine-year low

by Caroline Dann07 Sep 2012

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.

COMMENTS

  • by Brisbane Borker 7/09/2012 9:43:28 AM

    Where is cost of funding now?????????????

  • by Allan Faint 7/09/2012 9:49:37 AM

    obviously the previous price gouges were to fund either record profits of these fixed rate drops if neccessary.

  • by Kevymac 7/09/2012 9:59:26 AM

    fixed rates are not set against the RBA