Following on from May 1 RBA decision to cut the cash rate by 0.5 percentage points, Westpac has cut its headline three year-fixed mortgage by 20 basis points to 6.19%.
HSBC has cut its three year fixed-rate product to 6.09% or 5.99% for those investors who take up the interest-in-advance offering
ME Bank has also cut its three-year fixed rate mortgage product to 5.99%.
Currently the cheapest three-year fixed rate offering appears to be the 5.89% rate offered by IMB Building Society.
Other lenders are also expected to also drop their fixed rates as they look to lock in borrowers.