Westpac cuts two and three fixed-rates below 4.99%
Westpac will from Tuesday (June 18) cut its two and three-year fixed-rate home loan rates below 5% for package home loan customers.
The bank will cut both rates by 10 basis points to 4.99% for new borrowings under its premier advantage package offering.
The bank briefly flirted with a 4.99% interest rate for its two-year fixed rate home loan from February 7 to March 19.
|
It follows a host of lenders recently cutting their fixed-rate home loans with demand for the product rising to one in three borrowers, according to the May mortgage approval figures from Mortgage Choice.
Today HSBC cut its two-year fixed-rate home loan to 4.59% for a limited time and its three-year fixed rate home loan to 4.79%.
Official ABS figures show a fifth of borrowers fixed their home loan rate in April.