ME cuts home loan rates

The non-major reduced its three-year fixed home loan rate by 10 basis points to 3.79 per cent for owner-occupiers and 3.89 per cent for investors.

These rates are available for principal and interest and interest only repayments with no loan to value ratio restrictions.

ME’s general manager of broker, Lino Pelaccia, said ME was able to facilitate the new rates through recent cheaper fixed-rate funding.

“The cost of fixed-rate funding has fallen significantly, savings that ME has decided to pass on to customers in the form of cheaper fixed rates home loans,” he said.

Last week, ME slashed its home loan variable rates for new customers.