Non-bank lender Resi Mortgage Corporation has undercut other lenders by reducing its two and three-year fixed rates to new lows.
Resi today announced a round of fixed interest rate cuts, which has resulted in the lender dropping its two and three-year fixed rates by 0.4% and 0.2% respectively.
Resi CEO, Angelo Malizis, says Resi has cut its two and three year fixed rates to 4.99%, providing a boost for the company’s franchise network.
“These rates will be offered until Christmas and are the ideal opportunity for those looking for certainty in their repayments, whilst receiving the benefits of low interest rates. But just as importantly, it provides another substantial incentive for franchisees in the all-important lead up to Christmas.”
Malizis says the timing would be beneficial for borrowers heading into Christmas because even someone refinancing from a standard variable rate will immediately gain savings. Borrowers will also enjoy the security of knowing their rate is locked in for a set period of time.
“And this can be all the more attractive in the face of the current uncertainty in the industry, where debate continues over the precise direction of rates for the year ahead,” he added.