Paul Cunningham

If you've ever seen a bank cut its fixed home loan rates while the Reserve Bank of Australia (RBA) hasn't moved the cash rate, LIke ING Bank did this week, you might reasonably wonder what's going on.

Last week both ANZ and Macquarie Bank reduced a number of their fixed home loan rates. Macquarie made the more significant move, cutting rates across its fixed-rate offerings by between 0.25% and 0.50%, with its three-year fixed rate falling to 6.09%. ANZ also trimmed selected fixed rates, reducing its two-year rate to 6.29% and its three-year rate to 6.49%.

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