ANZ reduces one and two year fixed rates

ANZ has announced it will cut its one and two year fixed mortgage rates by 0.54 per cent 0.20 per cent to 5.45 per cent and 5.79 per cent respectively.

The news to cut its fixed rate products compares to the wholesale increase by the major banks to their fixed rate mortgages over the prior two weeks. Nevertheless the ANZ cut now brings its fixed rate products close to the rates offered CBA, Westpac and NAB.