.
Three of the big four banks have passed on the full interest rate cut to home loan customers.
Commonwealth Bank of Australia (ASX:CBA), Westpac Banking Corp (ASX:WBC), National Australia Bank Limited (ASX:NAB), Suncorp Group Limited (ASX:SUN) and Bank of Queensland Limited (ASX:BOQ) have all reduced their mortgage rates by 25 basis points after the RBA cut the cash rate to a record low of 2.75 per cent.
Australia and New Zealand Banking Group (ASX:ANZ) will make its decision at its regular interest rate review on Friday.
Banks hope the lower interest rates will stimulate home lending, a critical source of profits.
Housing credit is growing at its slowest annual pace since Reserve Bank records began in 1977, despite the central bank's attempts to stimulate activity.
CBA generated a net profit of $3.7 billion in the first half of 2013.
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Last
$31.17 |
Change
-0.330(1.05%) |
Mkt cap ! $94.19B | |||
| Open | High | Low | Value | Volume |
| $31.30 | $31.37 | $31.08 | $172.3M | 5.529M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 29786 | $31.17 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $31.20 | 807 | 1 |
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| Last trade - 16.10pm 29/11/2024 (20 minute delay) ? |
| ANZ (ASX) Chart |
