National Mortgage Company cuts fixed rates again

20 AUG 2010 • 1 min read • Finance

National Mortgage Company has announced new reductions to its fixed home loan rates.

NMC’s one and two year fixed rate mortgages now sit at 7.30 and 7.50 per cent respectively.

The move comes after the non-bank lender reduced both its two and three year fixed rates to 7.60 per cent just over a week ago.

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Head of sales Fernando Lemos said NMC had observed a slight shift to fixed rates with consumers wanting certainty for the future.

“We are always looking at ways of passing any funding benefits directly onto our customers,” he said.

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Mortgage

Mortgages are loans that are used to buy homes and other real estate where the property itself serves as collateral for the loan.

Rates

Rates refer to a fixed price or an amount charged by sellers or providers for their goods and services.

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