Commonwealth Bank cuts fixed loan rates

The Commonwealth Bank has cut its rates for fixed-interest home loans by up to 40 basis points.

The rate on the bank’s two-year fixed rate loan will drop from 6.19% to 5.79%, while the rate on the four-year loan will drop 35 basis points to 6.29%.

The rate on the five-year fixed rate loan will fall 35 basis points to 6.39%.

The rates will apply from Friday.

This article first appeared on SmartCompany.

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