ANZ cuts fixed interest rate

ANZ has lowered its fixed-term mortgage rates in a bid to position itself as a true competitor in fixed lending.

ANZ announced yesterday it would slash six basis points from its three years fixed rate, 19 basis points from its four years fixed loan and nine basis points from its five-year loan, taking them to 7.64 percent, 7.74 percent, and 7.94 percent respectively.


CBA is offering three year fixed mortgage rates at 7.89% and Westpac is offering 7.79% on its three years fixed rate home loan.

Despite the cuts to its longer-term fixed home loans, ANZ raised its one year fixed rate mortgage by 13 basis points to 6.84 percent.