ANZ cuts fixed rates by up to 50bps

by Staff Reporter•Tuesday, 12 Aug 2008•6 minute read

“An easing of short-term money market rates” has prompted ANZ to cut its fixed home and residential investment rates by up to half a percentage point, the bank told Mortgage Business today.

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Effective today, interest rates on the bank’s fixed rate home and residential investment loans will decrease by between 11 and 50 basis points to bring all one to five year fixed loans to a rate of 8.99 per cent.

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This compares to a standard variable rate of 9.62 per cent.

Seven and ten year fixed loans will fall to 9.39 per cent.

Published: 11-08-08

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