UBank, Westpac, Teachers Mutual & others chop home loan rates below 3%

It’s been a big year for home loan rate cuts, and with the RBA not expected to cut the cash rate again till next year, this week’s cuts by Westpac, UBank, St George, Bank of Melbourne and Teachers Mutual Bank could be among the last we see in 2019.

UBank cuts savings rate by 31 basis points

Popular online bank UBank has slashed the interest rate on its savings account products by 31 basis points – more than the official cash rate cut.