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Macquarie Bank cuts its fixed rates

by Staff Reporter7 minute read
The Adviser

Another bank has joined the flurry of lenders that have reduced its fixed rates in the past week.

Macquarie Bank has cut its one-year rate from 4.89 per cent to 4.79 per cent, its two-year rate from 4.89 per cent to 4.84 per cent and its three-year rate from 5.29 per cent to 4.99 per cent.

Macquarie has also lowered its four-year fixed rate from 5.69 per cent to 5.29 per cent and its five-year rate from 5.89 per cent to 5.39 per cent.

The changes apply to the Basic Home Loan, Offset Home Loan Package and Line of Credit Home Loan Package.

Commonwealth Bank, NAB and Westpac have all reduced their fixed rates in the past week.

At least six other lenders have also reduced their fixed rates: AMP Bank, Bank of Melbourne, Citibank, CUA, Homeloans and Suncorp Bank.

[Related: CBA unveils its lowest five-year rate]

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