Overall fixed rates at 'five-year low'

by Caroline Dann10 Sep 2012

The competition between Australian lenders and their fixed rates is heating up, with CBA claiming overall fixed rates are now at a five-year low.

Last week, the bank cut across its suite of products, bringing its four and five-year fixed-rate loans to nine-year lows.
It followed a cut from Westpac earlier in the week.
News Limited reported the fixed rate market took around 20% of the $1.1 trillion home loan market during the June quarter.
CBA executive general manager of retail Michael Cant told News Limited the market would grow considerably before the end of the year.
"Fixed rates are now at a five-year low and we expect the demand to rise to about 25 per cent over the coming months," he said.


  • by Country Broker 10/09/2012 10:36:52 AM

    good reason for this , they cannot sell enough fixed rate loans or they are factoring in the next rate cut !!