ANZ cuts Variable Rates by 0.27%

May 10, 2013 ANZ, Home Loans, Interest Rates, NAB, variable interest rate, Westpac by Administrator

ANZ decided to decrease their variable interest rate for home and investment loans by 0.27% which is .02% more than the other banks.

I see on twitter and in news reports praising the bank for being generous. Let us not forget the bank has increased its margin by 0.49% since November 2010. So the 0.02% is nothing compared to what they have taken.

This is not to say the NAB, Westpac, Commonwealth Bank and many other lenders are any better as they have all been guilty of not passing on full rate cuts or increasing interest rates.

It is always best to check with a qualified mortgage consultant to see if you are getting the best deal on your mortgage by submitting a mortgage enquiry.