Newcastle Permanent drop rates to below 4 percent fixed

Newcastle Permanent drop rates to below 4 percent fixed
Newcastle Permanent drop rates to below 4 percent fixed

The regional mutual lender Newcastle Permanent has dropped home loan interest rates by up to 45 basis points ahead of the today's Reserve Bank monetary policy meeting.

Newcastle Permanent has reduced its two-year year fixed home loan rate by 5 basis points, its three-year fixed home loan rate by 10 basis points and its four-year fixed home loan rate by 45 basis points. 

All rates are now under 4 percent with the new two, three and four-year fixed rates advertised at 3.69 percent, 3.79 percent and 3.94 percent, respectively. 

All new rates are effective Monday 1 August, the Australian Broker website advised.

Peter Arnold, data insights director at RateCity.com.au, said fixed home loan rates continued to tumble, with more than 600 rate cuts in June and July.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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Interest Rates Home Loans

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