Five-year rates, one year on..

Thursday, July 8th 2010, 11:19AM

This month has seen some huge changes to long-term fixed interest rates across most home loan lenders.  The most significant were the cuts to five-year rates which, for our main retail banks, were between 65 and 75 basis points bringing them back down to were they were 12-months ago.

Although the longer-term fixed rates are quite a bit lower than last month, they are still the more expensive option with medians around 7.20% to 7.80%, compared with the six-month and one-year median rates of between 6.10% and 6.45% respectively.

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