CUA cuts three-year fixed rate to 5.25%

Larry SchlesingerFebruary 21, 2013

Lenders continue to cut their fixed rates with CUA today cutting its three-year fixed rate home loan to 5.25% per annum.

It follows fellow mutual lender ME bank cutting its three-year fixed standard home loan rate to 4.99% on both packaged and non-packaged loans earlier this week and all the major banks cutting their two-year fixed rates to 4.99%.

Jason Murray, CUA’s general manager, products & marketing, points out that the three-year fixed rate is 19 basis points lower than the average of the big four banks’ equivalent products, and with fixed rates the most popular option for term home loans, he recommends customers should seize the opportunity to benefit from the lower rates.

“Fixing a mortgage not only provides payment certainty over an extended period, but can also help to stabilise your monthly outgoings. While the Official Cash Rate is at the same low levels it was at the peak of the GFC, economists are seeing signs of an upturn in global economic conditions which suggests that rates may not go much lower, so now could be an ideal time to lock in your mortgage rate,” he says.

Larry Schlesinger

Larry Schlesinger was a property writer at Property Observer

Editor's Picks

City Beat January 2025: Sydney property market cooldown slows as new apartment pipeline ramps up
26 Vista Street, Surfers Paradise apartment development, hits 70 per cent sold
Latent Defects Insurance 101: What is the Technical Inspection Service (TIS) Program
City Beat January 2025: Gold Coast property values continue to grow as off the plan enquiries hit near 12-month high
Live parkside in Melbourne for under $500,000