Fixed rate mortgage war heats up

first_img Facebook Twitter: @NeosKosmos Instagram Banks and other lenders are battling hard for mortgage market share with big rate cuts on fixed rated-rate mortgages. HSBC has cut rates on new two-year fixed loans to 4.59 per cent. Westpac is cutting 0.1 percentage points from its two and three-year fixed loans, taking them to 4.99 per cent per annum. The other three big banks, ANZ, Commonwealth Bank and NAB, also have two-year fixed rates currently set at 4.99 per cent. Fixed rate mortgages are now more popular than they have been at any time in the last five years. Source: Fairfax Medialast_img