Non-major cuts fixed rate

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Members Equity (ME) has reduced its 2-year Flexible Home Loan fixed rate for owner occupiers by 40 basis points, bringing it to 3.89% p.a.

This reduction makes ME’s rate the lowest it has ever offered, and cheaper fixed rate funding made the rate cut possible, said ME Head of Home Loans, Patrick Nolan.

 “Savvy borrowers also have the option to split both our 2-year fixed rate with our competitive Flexible Home Loan with Member Package variable rate for new loans of 4.19% p.a,” said Nolan.

Nolan said that ME is expecting demand for fixed rates to jump as more people seek certainty over the unpredictability of variable rates in the near future.

“We’re seeing more borrowers starting to consider locking in at least some of their home loans with a fixed rate,” he said.



 

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