Fixed mortgage rates tumble but watch for fees

By John Collett
Updated August 4 2014 - 11:08am, first published July 27 2014 - 10:07am
Financial experts send a message to home buyers: Catch behind the fixed mortgage rates fall. Photo: AFR
Financial experts send a message to home buyers: Catch behind the fixed mortgage rates fall. Photo: AFR
Lowest variable rate mortgages. (Source: Finder.com.au Information correct as at 24/07/14. Mortgages have no ongoing service fees; some require a deposit of at least 20%; ranked by lowest advertised comparison rate.)
Lowest variable rate mortgages. (Source: Finder.com.au Information correct as at 24/07/14. Mortgages have no ongoing service fees; some require a deposit of at least 20%; ranked by lowest advertised comparison rate.)

With one hand the banks giveth, and with the other they taketh away. This is the warning of financial experts, who say banks are charging account fees on home loans that can erode any savings from record low interest rates.

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