UPDATE: The Newcastle Permanent has cut interest rates 0.10%, less than half the Reserve Bank’s 0.25 basis point cut to the cash rate.
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That change will save mortgage holders about $24 each month on a $400,000 mortgage.
The building society is also introducing a guarantee to beat the big four banks on a range of home loan plans.
Greater Bank was still yet to announce its plan at midday on Friday.
Earlier: HUNTER lenders remain undecided on whether they will cut interest rates in line with the Reserve Bank’s record 1.5 per cent cash rate.
Both the Newcastle Permanent and Greater Bank were reviewing their position on Wednesday. Both indicated they would announce their decision to customers within days.
The Commonwealth and National Australia banks passed on 0.13 per cent cuts, roughly half the RBA’s 0.25 per cent drop.