BOQ Cuts Fixed Rate Home Loans to Reflect Improved Funding Conditions
BOQ today announced improved funding conditions have allowed it to cut rates on a range of fixed rate home loans.
Chief Executive Officer Jon Sutton said the long-term swap rates that drive funding in the fixed rate lending market had dropped and it was appropriate to pass these savings onto customers.
“The lending market is incredibly competitive at the moment and there are some great deals out there for customers who want certainty around the interest rates they will pay for the next two to five years,” he said.
“This is a great time for people to look at their finances and consider whether they have the best possible deal. We believe BOQ’s highly competitive rates, combined with award-winning service, provide customers with a strong alternative.”
The following fixed home loan rates are effective from Wednesday 11 February 2015:
|Home loan product||Reduction||New rate|
|2 year fixed||20 basis points||4.59%|
|3 year fixed||30 basis points||4.49%|
|4 year fixed||40 basis points||4.59%|
|5 year fixed||40 basis points||4.69%|