1 MIN READAPRA reaches out to major banks as housing credit picks up
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In a bid to help first home buyers realise their dream of home ownership, RAMS has slashed up to 50 basis points from its three, four and five year fixed rate home loans.
The company cut 24 basis points from its three year fixed rate, taking it to 6.99 per cent.
In addition, the company also reduced the interest rate on its four and five year fixed rate products by 0.3 per cent and 0.5 per cent respectively, taking both to 7.49 per cent.
RAMS acting chief executive Tony MacRae with the pressures of increasing interest rates, the company was determined to offer competitively priced home loan products that would help more first home buyers take the property plunge.
“Generally, the best time to buy a house is when you are ready, however our experience shows home loan activity tends to be more active in the warmer months when more homes list on the market,” Mr MacRae said.
“This provides an opportunity for savvy buyers to take advantage of an increasing housing supply and negotiate a deal that’s right for their financial needs.”
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