Talk Money: July 24, 2015
Some banks rushed to cut their floating rate - not such a stampede to trim the fixed rates.
The Reserve Bank cut the Official Cash Rate by a quarter of a percent to three percent yesterday.
At least one bank has cut its floating mortgage rate to below six percent. Other banks will do the same if you haggle with them.
But the lower rates are not good news for savers.
Watch the video for the full Talk Money.