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Three major banks have cut their three-year fixed rates, while two non-majors have increased their fixed rates.
Westpac, ANZ and NAB Broker have reduced their rates, while Heritage Bank and AMP have gone the other way.
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Westpac has followed last month’s cut to its Premier Advantage package by reducing its three-year fixed rates by 26 basis points.
ANZ has made cuts of six basis points to its three-year fixed rate, which is now 5.28 per cent, and its Breakfree package, which has fallen to 5.13 per cent.
NAB Broker and Homeside Lending have also reduced their three-year fixed rates by one basis point.
Meanwhile, Westpac’s one-year fixed rate has risen from 5.39 per cent to 5.49 per cent, while Heritage Bank’s two-year fixed rates have risen from 4.65 per cent to 4.75 per cent.
AMP has also added 10 basis points to its rates. Its one-year fixed rate is now 4.79 per cent, its two-year fixed rate is now 4.89 per cent and its three-year fixed rate is now 4.99 per cent.
All of the lenders’ changes have already taken effect.
