Today it is the turn of ASB and Sovereign to reduce rates. They each have taken 10 points off the six month rate and 24 points of their one year and 18 month fixed home loan rates.
Meanwhile, Westpac has taken 10 points off all fixed rates between six months and three-years. Its one-year capped rate is down 34 points to 6.40% and two-year capped rate down 59 basis points.
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