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For example, industry fund-backed ME Bank has announced its “lowest-ever” fixed rate of 3.18 per. in analysis by Australian Finance Group, the nation’s largest network of mortgage brokers, that.
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Compare The Market Pty Ltd ACN 117 323 378 (CTM) is a Corporate Authorised Representative of australian finance group limited acn 066 385 822 (australian credit licence 389097 (AFG).This site compares home loan products from participating brands, being Adelaide Bank, AFG Home Loans, AMP.
Variable rates. In just 4 years, interest rates dropped from the high of 17% (January 1990) to the low of 8.75% (June 1994). After a peak of 10.5% in 1995, interest rates reached a low point of 6.5% in December 1998. Since then, interest rates have tracked within a band of approximately 8% and 6%.
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While it is expected that the Reserve Bank of Australia would cut the official cash rate in a few weeks, some lenders just could not wait any longer, with one trimming what was already considered an industry-low rate even further. Mortgage House already had the market’s lowest mortgage rate at 3.44% even before it launched its newest offer at 3.29%, a report in Life Hacker said.
The decision to lift lending rates has stoked speculation that other lenders will follow suit and force the central bank to cut interest rates, already at a record low of. to providing mortgages,".
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