It also made some changes to its cash-back offers
Now might be the best time to consider fixing your mortgage
This could boost refinancing activity amongst borrowers looking for competitive rates
As widely expected, the Reserve Bank of Australia has left the official cash rate on hold at its April meeting. But will they slash rates next month?
This will be offered to those granted with repayment deferral
Aside from lowering interest rates, they are also allowing customers to defer mortgage payments
Not only did they lower fixed rates, they also offered mortgage deferrals to borrowers affected by the COVID-19 outbreak
One rate is for fixed-rate loans while the other is for variable mortgages