Reduce Home Loans has reduced its one-year fixed Full Doc interest rate by 16 basis points to 4.51% (comparison rate 5.19%).

Your Mortgage’s home loan calculator shows the reduction will save customers about $26 a month for a loan of $300,000, on a loan term of 20 years, compared to the previous rate.

The three-year fixed Full Doc interest rate has been left on hold at 4.79% (comparison rate 5.44%).

The new rate is effective Tuesday, 1 October.

With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now