The major bank has reduced rates across its fixed home loan offerings by up to 57bps.
ANZ has cut mortgage rates across its owner-occupied and investor home loan products, which apply to both borrowers with principal and interest and interest-only terms.
The bank’s changes are effective for new customers from 5 July.
ANZ’s owner-occupied mortgage rate changes are as follows:
The major bank’s cuts to investment home loan rates are as follows:
ANZ also announced cuts to its variable rates in response to the Reserve Bank of Australia’s (RBA) cash rate reductions.
The RBA’s monetary policy adjustments elicited an immediate response from the mortgage market, with ANZ among a host of lenders to reprice its home loans.
[Related: Non-majors lower mortgage rates]
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