TSB Bank has announced a cut in its one year fixed residential mortgage rate to 5.99%, effective Thursday, April 29, 2010, down from 6.20%. This rate cut comes on the eve of the Reserve Bank April review of its official cash rate, widely expected to be a 'no-change' decision. The new TSB rate for this fixed term is only one of two rates below 6%, the other being by HSBC for its Premier product and that comes with significant conditions, one being a $500,000 minimum loan amount if you are not a HSBC Premier customer. The TSB Bank offer does not have such a requirement. The major banks are offering fixed mortgage rates for a one-year term between 6.15% and 6.25%. All mortgage rates for all terms and all institutions are available on this webpage here.
We welcome your comments below. If you are not already registered, please register to comment.
Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.