Australian banks Australian interest rates Australian Property

Mortgage rates hit record low

Wednesday, 10 February 2021

Greater Bank has set a new benchmark in the mortgage market, cutting its one-year fixed rate by 20 basis points to 1.69 per cent. Comparison site Canstar says this is the lowest mortgage rate in the market.

Other low-rate lenders in the Canstar database include UBank, which is offering 1.75 per cent on a three-year fixed principal and interest loan.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.