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ME has introduced more rate reductions for owner-occupiers and investors due to a significant fall in funding costs.
The industry super fund-owned bank has cut its three-year fixed home loan rate by 10 basis points to 3.79 per cent for owner-occupiers and 3.89 per cent for investors.
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These rates are available for principal and interest and interest only repayments with no loan to value ratio restrictions.
ME’s general manager of broker, Lino Pelaccia, said ME was able to facilitate the new rates through recent cheaper fixed-rate funding.
“The cost of fixed-rate funding has fallen significantly, savings that ME has decided to pass on to customers in the form of cheaper fixed rates home loans,” he said.
The banks's latest pricing changes come after it slashed rates by up to 40 basis points on a range of variable mortgage products.
[Related: CUA makes significant rate cuts]
