Dear guys,
Article about CBA cutting their fixed 4 and 5 year interest rates tomorrow to below their standard variable rate.
What are the implications of this? With fixed interests rates you should pay a premium in order to have the "guaranteed security". When it's the other way round does this mean with the perceived instability in Iraq and the drought that some banks perceive that the reserve bank is getting ready for an interest rate cut?
What are others opinions of this?
Cheers,
Sunstone.
Commonwealth cuts fixed home loan rates
By allhomes staff
The Commonwealth Bank has reduced most of its home and investment home loan fixed interest rates by up to 0.2% effective tomorrow (Jan 31).
The bank is now offering 6.39% pa on its four-ear fixed rate, while the five year fixed rate drops to just 6.49% pa.
All the Commonwealth Bank's fixed home loan rates are now below 6.5%pa and below the bank's standard variable rate of 6.57%pa.
The bank is also offering introductory rates from 5.25%pa and savings of up to $600 on the standard establishment fee for both introductory rates and 3 year fixed rate loans over $80,000.
General manager Mortgage Wealth Lyndell Fraser said the bank's move reflected its competitive focus and decreases in wholesale markets rates.
Comments (for publication on this site) to: [email protected]
Article about CBA cutting their fixed 4 and 5 year interest rates tomorrow to below their standard variable rate.
What are the implications of this? With fixed interests rates you should pay a premium in order to have the "guaranteed security". When it's the other way round does this mean with the perceived instability in Iraq and the drought that some banks perceive that the reserve bank is getting ready for an interest rate cut?
What are others opinions of this?
Cheers,
Sunstone.
Commonwealth cuts fixed home loan rates
By allhomes staff
The Commonwealth Bank has reduced most of its home and investment home loan fixed interest rates by up to 0.2% effective tomorrow (Jan 31).
The bank is now offering 6.39% pa on its four-ear fixed rate, while the five year fixed rate drops to just 6.49% pa.
All the Commonwealth Bank's fixed home loan rates are now below 6.5%pa and below the bank's standard variable rate of 6.57%pa.
The bank is also offering introductory rates from 5.25%pa and savings of up to $600 on the standard establishment fee for both introductory rates and 3 year fixed rate loans over $80,000.
General manager Mortgage Wealth Lyndell Fraser said the bank's move reflected its competitive focus and decreases in wholesale markets rates.
Comments (for publication on this site) to: [email protected]