Westpac cuts fixed interest rates

The war between Australia’s major lenders shows no signs of abating, with Westpac slashing rates across a number of its mortgages.

Yesterday, the major announced its plans to cut the interest on its two, three, four, five and 10 year home and investment property fixed loans.

The lender cut up to 20 basis points from the various products, taking its three year fixed rate to just 7.29 per cent under the premier advantage package from 7.49 per cent.

Westpac appears to be determined to ramp up its level of market activity by offering a suite of competitively priced products.

I am sure the the other majors will quickly follow to grab their slice of the available borrowers


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