Macquarie Bank has lowered interest rates on three of its fixed-rate home loans, possibly setting off a competitive response from other lenders as the Reserve Bank of Australia's first meeting of the year approaches. The move comes ahead of the central bank's February 18 decision on interest rates, with economists increasingly predicting a cut.
Macquarie Bank has cut interest rates on three of its fixed-rate home loans as the highly anticipated first Reserve Bank meeting of the year draws closer.
"While fixed rates often reflect the cost of wholesale funding, the prospect of cash rate cuts in the next few months is likely to encourage more lenders to take the knife to their fixed rates." "The fixed-rate market has been relatively quiet over the summer break, with more lenders hiking these rates in the month of December than cutting," Tindall said.
INTEREST RATES RBA FIXED-RATE LOANS COMPETITION INFLATION
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