Aussie John says home loan interest rates won't fall "much further"

The mortgage broker and non-bank lender, Aussie Home Loan has dropped its lending rate to 4.95% p.a for its one year package, which is currently lower than any of its major competitors.

The rate drop follows Aussie lowering its three year fixed rate down to 5.29% and its four and five year rates to 5.59%.

“I do not expect rates to fall much further so borrowers should consider fixing at least part of their mortgages, and with rates falling below 5%, it’s a great time to enjoy some peace of mind with your repayments,"  Aussie’s executive chairman John Symond said.

"This one year drop gives consumers the choice of not being locked in for too long, but still reaping the benefits of the lowest fixed rate of the majors for a set period,” he said.