Commonwealth bank has cut its 3 year fixed interest rate packaged to 5.59% for owner occupiers. This should entice more buyers to enter the market as it provides stability knowing what their scheduled repayments are going to be on a week to week / month to month basis.
Key points
- CBA has cut fixed-rate mortgages by 40 basis points
- This applies to both investment and owner occupied home loans
- The annoucement comes in the same week the bank announced slight increases to variable rates.
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