BANKS cutting interest rates, RBA expected to drop cash rate

The major bank has joined several lenders in cutting its mortgage rates in anticipation of a monetary policy adjustment.

NAB, BOQ, BankSA, and Greater Bank are the latest lenders to drop their fixed mortgage rates following a move from ING earlier this week.

NAB

NAB has reduced its two-year standard owner-occupied P&I fixed rate on its NAB Tailored Home Loan (Choice Package) by 20 basis points to 3.59 per cent (4.93 per cent comparison rate).

The big four bank has also cut its two-year first home buyer fixed rate by 20 basis points, down from 3.69 per cent to 3.49 per cent.