What is a Comparison Rate?
The latest in home loans news
Big bank home loan war as ANZ slashes fixed rates to 2.68%
Australia’s fourth largest lender, ANZ, has today slashed its fixed rate home loans by up to 0.86 per cent.
A comparison rate factors in not only the interest rate of a loan but also the majority of upfront and ongoing charges that add to the total cost. Because of this, the comparison rate is a more in-depth way of comparing mortgages than the advertised rate alone.