homeowners benefit from low interest rates

ANZ has just announced another cut on rates on some of their fixed-term mortgages.

From 15th October ANZ offers special rates on six-month, one-year and two-year terms. Rates starts as low as 3.45%.

"The current extreme low interest rate environment not only represents an opportunity for new home buyers to enter the market, but for existing home loan customers to pay off as much of their debt as possible." said by ANZ bank Acting Managing Director Ben Kelleher.

The official cash rate (OCR) is at 1% and economists predict it could drop to 0.5% before it increases again.