Westpac points excellent news for each Australian with a mortgage

Westpac has slashed fixed mortgage rates as the big banks fight for new customers ahead of an expected official rate cut next week.

Australia’s second biggest lender has cut one and two-year fixed rates.

One-year fixed rates have been slashed by 40 basis points to 5.69 per cent while Westpac’s two-year fixed rates have fallen by 30 basis points to 5.59 per cent.

Westpac has slashed fixed mortgage rates as the big banks fight for new customers ahead of an expected official rate cut