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Banks move to ditch long-term low fixed rate offers

Banks move to ditch long-term low fixed rate offers
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Banks move to ditch long-term low fixed rate offers

A raft of lenders including the Commonwealth Bank and Bendigo Bank are quietly ditching their ultra-low four-year fixed rate offers, pushing borrowers into shorter-term financing options in the face of a hot property market.
The move comes as Australians have been rushing into fixed loans at a record rate, as homeowners seek to lock in cheap financing for the long term. Confidence among homeowners has been boosted by the Reserve Bank of Australia repeatedly saying it has no plans to raise the official cash rate until 2024.
But money markets are pricing in cash rate rises before then, prompting some banks to move away from deeply discounted long-term fixed loans. ....

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Banks move to ditch long-term low fixed rate offers

Banks move to ditch long-term low fixed rate offers
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Banks move to ditch long-term low fixed rate offers

Banks move to ditch long-term low fixed rate offers
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Banks move to ditch long-term low fixed rate offers

Banks move to ditch long-term low fixed rate offers
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