This week two lenders dropped their fixed rates.

Effective 24th November, Heritage Bank offered special discount rates for their Standard Variable and Discount Variable products.

Effective 14th November, ASB and Sovereign Home Loans reduced their fixed rates ranging from one to five years. In addition, both lenders introduced a special four year fixed rate of 5.99% p.a. Check out the new rates in iLend™.

Several lenders in Australia reduced some of their fixed rates this week, with The Rock Building Society the latest lender to reduce their five year fixed rates by 50 basis points. St George, BankSA and Bank of Melbourne reduced their two and three year fixed rates by 10 basis points. 

Following SBS Bank’s two year fixed rate reduction on at the start of the week, they have done it again by reducing their other fixed rates by up to 30 basis points.