- August 9, 2011
- Posted by: admin
- Category: Enconomy, Financial goals, Interest rate, Wealth
The Commonwealth Bank now leads the major banks in fixed rate home loans following a decision to slice up to 60bps off its fixed rate products.
Fixed rates for one to five year products will range from 6.59 per cent to 6.99 per cent.
Wholesale fixed rates have reduced and CBA have been quick to pass these benefits onto our customers.
The move follows a host of other lenders, including Westpac, St George and Citibank, which have cut pricing on their fixed rate products – prompting speculation over the Reserve Bank’s next rate announcement.
Is this a sign that the variable interest rate will drop? I think so