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ISCOVER
Staff Reporter
Just days after Westpac launched its 4.99 per cent fixed rate, another bank has decided to match the offer.
Earlier this week, the Commonwealth Bank of Australia slashed 30 basis points from its two-year Mortgage Advantage Package fixed rate home loan, also taking the new rate to just 4.99 per cent.
In addition, the lender trimmed 30 basis points from its two-year Investment Home Loan, taking the new rate to 5.14 per cent.
As part of the offer, borrowers are able to lock themselves into either of these new interest rates for the non-refundable fee of $750.
Speaking about Westpac’s aggressive product pricing, the lender’s general manager of mortgage broker distribution, Tony MacRae, said he was pleased to offer brokers and their borrowers peace of mind.
“As our customers and mortgage broker partners have seen in this volatile and highly competitive market, interest rates move around a lot and for those homeowners who are looking for security and peace of mind about their loans and monthly repayments, this offer delivers both for a significant period of time,” he said.
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