ING cut variable investor rates for new customers by 50 basis points from 23 October, taking its lowest principal and interest variable rate to 2.69 per cent, and reduced two and three year fixed rates by 0.45 percentage points. Citi also trimmed fixed and variable pricing. The moves followed PIPA survey findings that 36 per cent of investors would refinance for a saving of half a percentage point.
Reported by
Annie Kane, The Adviser, 23 October 2020
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