CUA cuts one, two and three-year fixed-rates to 4.89%

Australia’s largest customer-owned financial institution, CUA will cut its one, two and three-year fixed rate home loans to 4.89% from June 26.

The credit union group has cut its basic three-year fixed-rate by 10 basis points, its two-year fixed rate by 16 basis points and its one-year fixed-rate by 21 basis points.

CUA has also made rate cuts across its premium one, two and three year fixed-rate products.

It joins a growing number of lenders to have cut fixed-rates recently as demand for the products rises to around one in three borrowers, according to Mortgage Choice.