BankWest lowers its 3 and 5 yr fixed home loans

BankWest has announced it will reduce its three and five year fixed rate home loans starting today.

This will bring its three years fixed rate home loan from 7.64% to 7.38% pa, and its five year fixed rate home loan rate will be reduced from 8.09% to 7.89%.

A spokesperson from BankWest said the move was designed to make the lender more competitive.