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Commonwealth Bank cuts fixed rate home loan interest rates

Media release

CommBank can

Media release

Commonwealth Bank cuts fixed rate home loan interest rates

Thursday, 6 September 2012:  The Commonwealth Bank today announced that it will cut interest rates on new One, Three, Four and Five-Year Fixed Rate Home Loans by up to 0.40 per cent per annum.

This latest rate cut means Commonwealth Bank Fixed Rate Home Loans are now at their lowest levels for almost three years, with the Four and Five-Year Fixed Rate Home Loans the lowest they have been in over nine years.  This change comes on top of a reduction in our Two-Year Fixed Rate a few weeks earlier.

The new interest rates will be available to new customers, or customers looking to switch from variable to fixed rate home loans from tomorrow, Friday, 7 September 2012.

Michael Cant, Executive General Manager Retail Products & Customers said, “This latest fixed rate home loan interest rate reduction is great news for new customers looking to lock in their mortgages, offering them some certainty in the upcoming years.  We’re pleased to be offering customers some interest rates that are the lowest they’ve been for more than nine years.”

 

One Year

Three Years

Four Years

Five Years

CBA (current*)

5.94%

5.94%

6.44%

6.54%

CBA (new*)

5.84%

5.84%

6.14%

6.14%

Change

-0.10%

-0.10%

-0.30%

-0.40%

 

ENDS

 

For more information contact:
Tracy Hicks
Commonwealth Bank
Ph: (02) 9118 6919

 

Media contact:

Tracy Hicks
Commonwealth Bank
Ph: (02) 9118 6919