St George Bank has partially bucked the trend set by Australia's big banks by lowering interest rates on some of its fixed home loans after most its rivals completed a second round of rate hikes.
St George lowered its rates on one-year and two-year fixed home loans on Wednesday, while lifting rates for longer-term home loans in line with three of its competitors.
The Westpac-owned bank dropped its rate on one-year fixed mortgages by 48 basis points to 5.44%. Five basis points was sliced off the two-year fixed mortgage to 5.94%.
Rates on three, four and five-year fixed mortgages all increased by between 34 basis points and 69 basis points, leaving both four and five-year term loans now costing customers 7.14%.
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