The Reserve Bank's announcement on Tuesday caused a flurry of cuts, not least of which were quite a few lenders cutting home loans below 2% for the first time.
With the Reserve Bank's cash rate cuts this year driving fixed interest rates on home loans down to historic lows, experts are warning borrowers about break fees.
Leading online lender Loans.com.au has slashed its fixed interest rates by 20 basis points across the board, bringing some of its fixed rates below 3% for the first time.