The lowest three-year fixed-rate mortgages as ANZ lifts to 6.34%

The lowest three-year fixed-rate mortgage currently available is 5.94% on offer from the Holiday Coast Credit Union, which primarily services the Holiday Coast and Hunter regions of NSW and has about 32,000 members.

The most recent lender to cut its fixed rates was credit union CUA, which cut the interest rate on its three-year fixed-rate loan on February 13, from 6.34% to 5.95%.

Recent figures put out by mortgage brokers AFG and Mortgage Choice show that about one in five borrowers are taking out a fixed mortgage following major cuts to these products by lenders in 2011.

Here’s a rundown of the cheapest three-year fixed rate offerings on the market at present (available nationally, minimum loan amount $250,000):

5.94%

Three-year fixed rate of Holiday Coast Credit Union

5.95%

Three-year fixed rate of non-bank lender Homestar Finance

5.99%

Three-year fixed rate of Newcastle Permanent Building Society, Heritage Bank, AMP Bank and Bank of Queensland

6.09%

Three-year fixed rate of IMB Building Society

6.14%

Three-year fixed rate of Suncorp

6.19%

Three-year fixed rate of SGE Credit Union, HSBC, Greater Building Society and ING Direct.

6.24%

Three-year fixed rate of NAB, St.George, Bank of Melbourne and BankSA

6.25%

Three-year fixed rate of non-bank lender Myrate

6.33%

Three-year fixed rate of non-bank lender of the Commonwealth Bank.

6.34%

Three-year fixed rate of ANZ

6.39%

Three-year fixed rate of Westpac

6.79%

Three-year fixed rate of BankWest

Rates correct as of March 9, 2012

 Here is a list of the most recent standard variable rates of the big lenders.