Suncorp Bank cuts mortgage rates below 5%

Other smaller lenders have followed suit, releasing fixed products with starting rates below 5%. Illawarra Credit Union introduced two- and three-year fixed options at 4.99 % p.a. and 4.94 % p.a. respectively, while Community First Bank and Pacific Mortgage Group unveiled comparable deals, with Pacific’s two-year fixed rate now at 4.74 % p.a.