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Lender cuts rates by up to 45 basis points

by Staff Reporter1 minute read

One Australian mortgage provider has today announced rate reductions on a number of home loan products.

As the Reserve Bank Australia prepares to decide whether or not to cut the official cash rate tomorrow, Newcastle Permanent has come out with a sharp set of fixed-rates for its home loan customers.

The lender’s four-year fixed-rate home loan has been cut by 0.45 per cent to 3.94 per cent (4.7 per cent comparison rate), while its three-year fixed rate has fallen by 10 basis points to 3.79 per cent (4.75 per cent comparison rate).

Newcastle Permanent has also reduced its two-year fixed rate by 0.05 per cent to 3.69 per cent (4.83 per cent comparison rate).

All changes are effective from today.

[Related: ING Direct cuts home loan rates]

 

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James Mitchell

James Mitchell

AUTHOR

James Mitchell has over eight years’ experience as a financial reporter and is the editor of Wealth and Wellness at Momentum Media.

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