Citi Australia lowers Fixed Rate home loans

Citi Australia has today announced changes across its fixed rate home loans. The new rates include Citi Australia"s lowest ever advertised home loan rate.

The changes include:

• 20 basis points reduction to 1.99% p.a. on new 1 and 2 year Fixed Rate home loans for Owner Occupiers paying Principal and Interest.
• 20 basis points reduction to 2.29% p.a. on new 1 and 2 year Fixed Rate home loans for Investors paying Principal and Interest.
• 20 basis points reduction to 2.49% p.a. on new 1 and 2 year Fixed Rate home loans for Investors paying Interest Only.
• 10 basis points reduction on new 5 year Fixed Rate home loans to: 2.29% for Owner Occupiers paying Principal and Interest, 2.59% for Investors paying Principal and Interest; and, 2.79% for Investors paying Interest Only.

These moves follow the RBA decision to lower rates to a record low of 0.10%.

Commenting on the announcement, Citi Australia"s head of mortgage distribution Matt Wood said, "As we continue to hit new record lows for interest rates, we are pleased to offer brokers and our customers one of the most compelling rates in market."