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HSBC Bank Australia has cut its fixed home loan mortgage rates by between 35 and 130 basis points. Three year fixed rates for new customers have been cut to 7.99 per cent from 9.29 per cent. The one, two and three year fixed rate for existing customers was cut to 8.99 per cent and the four and five year fixed rate was cut to 8.9 per cent. HSBC said recent weeks had seen a significant reduction in the medium and long-term cost of fixed-rate funds in the commercial market.
