Commonwealth Bank has cut interest rates on its fixed-rate loans for home owners and investors as demand for home loans slows.
"This stampede of low rates has come on the back of a difficult year for the banks which saw new home lending take a sustained fall," she said. The cuts apply to principal and interest loans and are "packaged" rates, where those applying for the loans have other products with the bank, and apply to those taking out a new fixed-rate loan, not existing mortgages.
While ANZ is yet to change its fixed rates in 2019, CBA's move comes a month after NAB made similar cuts for investors and owner occupiers and after Westpac cut its 2-year fixed rate.
jcollett_money Need to get as many people trapped in debt peonage as possible before the market crashes and there are no new customers?
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