has followed the other three major banks in cutting its two and three year fixed-rate loans.
The bank announced yesterday it would reduce rates on all 2 and 3-year fixed rate loans by 0.05%.
New rates for CBA’s 2-year Mortgage Advantage Package are 4.84%, with three-year rates at 5.09%.
Fixed rate home/investment home loans for 2 and 3-year loans are now 4.99% and 5.24% respectively.
The move follows fixed rate cuts from ANZ
, Westpac, NAB
, Suncorp, Citibank
, Advantedge and Teachers Mutual Bank in recent weeks.
Interest rate changes are effective from Wednesday 19 February 2014 for new customers, existing customers who are switching/splitting into a fixed rate, and customers with applications in progress who have not rate locked their interest rate.