CBA aims to torpedo competition with big drop in mortgage fixed interest rates
The Commonwealth Bank of Australia is feeling the heat from the NAB and pressure about their margins and have dropped their fixed interest rates on many of their home loans to the lowest in 9 years
The Commonwealth Bank of Australia overnight cut its 1 year fixed rate, 3 year fixed rates, 4 year fixed mortgage rate and five year home loan interest rates from .1% to .4 perent.$ and 5 year fixed interest Mortgage rates the lowest in 9 years.
The CBA fixed interest home loan rates for both 4 year rate was cut .3% and the 5 year fixed interest rate cut by .4% with both terms now at just 6.15 percent per annum.
New rates for new customers only or those switching from variable to fixed rates.
The new rates will be available for new customers, or those switching to fixed rate loans.
Source: Mr Mortgage
