Via Banking Day:
While there have been plenty of lenders dropping fixed rates in recent months, few have cut their variable rates. That changed last week when ANZ, AMP Bank and Bendigo and Adelaide Bank bucked the trend.
ANZ cut the discount on its Simplicity Plus principal and interest rate for new loans with loan to valuation ratios below 80 per cent. In effect, it cut the rate by 37 basis points to 4.09 per cent.
