- Commonwealth Bank trims variable mortgage rate
Australia’s biggest home lender has cut its variable mortgage rates in a sign the Big Four banks are competing harder for new customers.
The Commonwealth Bank has trimmed its online-only mortgage by six basis points to 5.84 per cent for new customers.
This is now the equal lowest rate among the Big Four banks with Westpac and ANZ also having identical variable rates.
But the Commonwealth Bank’s lowest rate requires a bigger 40 per cent mortgage deposit, which is higher than Westpac’s 30 per cent and ANZ’s 20 per cent.
Australia’s biggest home lender has cut its variable mortgage rates in a sign the Big Four banks will compete harder for new customers
