The Commonwealth Bank has cut interest rates on home loans for new borrowers ahead of an expected reduction to the Reserve Bank’s cash rate in coming months.
The Commonwealth Bank has cut interest rates on home loans for new borrowers ahead of an expected reduction to the Reserve Bank’s cash rate.
The cuts to the term deposit rates have raised the ire of federal Treasurer Jim Chalmers and Labor MP Jerome Laxale who threatened to refer the banks to the competition watchdog.CBA on Friday said it had cut loans for owner-occupied mortgages by up to 20 basis points, and by 70 basis points for those who are locked into a three-year fixed rate.
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