Teachers Mutual Bank has cut its 3-year fixed rate home loan by 0.39% to 4.49%.

Your Mortgage’s home loan calculator shows the reduction will save home buyers about $89 a month for a loan of $400,000 on a loan term of 25 years, compared to the previous rate.

It has also reduced its 2-year fixed rate by 0.10%, down to 4.69%.

All upfront application fees will be waived on any new loans, fixed or variable.

The rates are effective Thursday 13th of February.

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