06 November 2020
Coastline cuts rates on fixed rate home loans
Effective 9th November 2020
The Reserve Bank of Australia (RBA) made the decision to cut the official cash rate to a historic low of 0.10% on the 3rd November 2020 at its monthly meeting.
Reserve Bank (RBA) Governor Phillip Lowe said the cut was made with the primary focus of getting people back into work. "The Board views addressing the high rate of unemployment as an important national priority," Dr Lowe said.
In response to the RBA’s announcement, Coastline has reduced new fixed rate loans as follows:
- Owner Occupied Loans
- 1 Year by up to 0.30%
- 2 Years by up to 0.35%
- 3 Years by up to 0.55%
- Investment Loans
- 1 Year by up to 0.60%
- 2 Years by up to 0.75%
- 3 Years by up to 1.00%
More information on our current carded rates can be found on our website or please call us on 1300 361 066 to discuss further.