CBA is the latest major lender to cut its home loan rates following announcements from ANZ and NAB over the last few days.
Today CBA announced that it will drop its variable rate on October 30 by 0.21 per cent to offer a standard variable rate of 8.32 per cent and a basic variable rate of 7.81 per cent.
Fixed rates have also been cut by up to 40 basis points.
Of the major banks CBA and ANZ now offer the lowest standard variable rates at 8.32 per cent followed by NAB at 8.36.
Today's other news
- RAMS stands by first home buyer campaign
- Auctions remain slow
- €10 billion government boost for ING
- NAB follows ANZ with rate cut
- CBA shuts online home loan business