Two of Fix Rate Cut within Two Months

 As the Australian housing market competition is increasingly intense, Westpac (Westpac) has been two consecutive cut its fixed mortgage interest rates in a month, a recent easing in the Thursday afternoon.

Thursday afternoon Westpac announced its 3 year housing loan with a fixed interest rate cut by 0.05 percentage points, fixed rate mortgage 2 years period decreased by 0.04 percentage points. At the end of January, Westpac hadreduced its 3 year fixed rate housing loans.

As the Australian real estate market gradually warming, inter bank launched a fierce competition, to strive for and the housing lenders to sign a contract, and the fixed interest rate market has proved a key battleground.

Westpac announced Thursday by the fixed interest rate will be effective from February 25th. When the 2 year fixedinterest rate will be 4.84%, 3 year fixed rate mortgages will be 5.09%.