Fixed rates have been tipped to keep falling after ME Bank undercut the majors by dropping its five-year rate to 4.94 per cent.
Another bank has joined the flurry of lenders that have reduced its fixed rates in the past week.
Genworth has reported a bumper profit and enjoyed a soaring share price thanks to its “favourable claims experience”.
The Western Australian government has been urged to ignore a recommendation from its economic regulator to sell the state’s lending business.
NAB has become the first bank to agree to new self-managed superannuation fund borrowing rules, with other lenders tipped to follow.
First home buyers will be able to use their superannuation to buy property under a new law being proposed by Senator Nick Xenophon.
Suncorp Bank and Bank of Melbourne have joined three of the majors in cutting five-year fixed rates to 4.99 per cent.
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