Is ‘ultra-cheap’ funding on its way out?
A second big four bank has gone and hiked its fixed home loan rates for owner-occupiers. ...
St George has responded to growing demand for fixed rate mortgages by slashing the interest rate on its two and three year products.
Yesterday, the lender and its sister companies Bank of Melbourne, Bank SA announced reductions to fixed home loan rates of up to 0.26 per cent p.a.
The brands now have very competitive rates across a range of fixed home loan terms, with the two year fixed rate reduced by 0.25 per cent p.a to 6.14 per cent p.a and a market leading three year fixed rate reduced by 0.15 per cent p.a to 6.24 per cent p.a.
The new fixed home loan rates quoted include St George's Advantage Package discount and are effective Wednesday, 16 November, 2011.
"It's a competitive market at the moment, customers are very rate aware and this appears to be the space where they're wanting to lock in," St George's general manager mortgage broking Clive Kirkpatrick said.
"We want to support our broker partners with one of the best offers in the market. It's important to us to show brokers that we're listening to them, and to demonstrate that they can do better with us."