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Australian First Mortgage has cut interest rates for the fifth time in four months.
The non-bank lender has reduced its fixed rates for its Complete and Alliance product suite, with the changes applying to loans in which either the minority or majority of the loan is fixed.
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The two-year rate has fallen from 4.82 to 4.72 per cent and the three-year rate from 4.87 to 4.78 per cent.
The four-year rate has dropped from 5.35 to 4.98 per cent and the five-year rate from 5.63 to 4.93 per cent.
Australian First Mortgage made two rounds of rate reductions in July: a cut of up to 40 basis points in its fixed rates, and then a cut of up to 50 points in its fixed and variable rates.
That followed a 10-point cut to variable rates in June and a 10-point cut to fixed rates in May.
Managing director David White said Australian First Mortgage was committed to helping brokers by providing excellent products for their clients.
“We know there is a big requirement for competition in the marketplace. We receive lots of feedback from brokers about their customers wanting alternatives to the big banks,” he said.
[Related: How low can fixed rates go?]
