Australia and New Zealand Bank has once again reduced interest rates for home loans.
The decision comes just weeks after the bank became the last of the Big Four to cut fixed mortgage rates.
However, not everyone will get this reduction in interest rates and only low-risk borrowers will be eligible for the new interest rate, while high-risk customers will have increased rates.
The bank has reduced the fixed rates by 0.25 percent for those who have a 20 percent or more deposit with a loan ratio of 80 percent or less.
For high-risk borrowers with a loan-to-value ratio above 80 percent, the rates have been increased by 0.15 percent, it said.
Australia’s major lenders have been cutting fixed rates since last August in an effort to attract customers in the coming months, analysts say.
