EDITORIAL

Bank home loan rates have tumbled to new lows in the last week after the Reserve Bank cut half a per cent off the Official Cash Rate, dropping it to a record low 1 per cent. The move came as a surprise to many, as most analysts had been expecting only a cut of a quarter of a per cent.

Smart homeowners are now able to grab a rate of 3.69 per cent, fixed over a year, at nearly all the major trading banks with some suggestions the banks will go even lower for those prepared to negotiate with

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