Triumvi-Rate: ANZ, NAB, Westpac choose one 3 year fixed rate

This week ANZ, NAB and Westpac, three of the big four banks, shifted their 3 year fixed rate home loan product to the exact same rate. NAB and Westpac making very specific 1 basis point changes within days of each other to maintain perfect alignment at 5.13% across all 3 year fixed rate home loan products.

ANZ was the first to move, shifting their rate down 6 basis points from 5.19% to 5.13% last Friday. NAB followed suit yesterday with an unusual single basis point shift from 5.14% down to 5.13% and this morning Westpac did the same. Non-package rates are between 0.1% and 0.2% higher.

To complete the set, CBA's 3 year Fixed Wealth Package has been at 5.14% since 5 December 2013.

Whether deliberate or just an exceptional case of esp will be up to consumers to decide. At least they're getting cheaper.

With rates so closely similar, consumers will need to look more closely at fees and flexibility of various home loan offers in order to make their choice. Homeowners and investors looking to lock in record low rates can compare fixed rate home loans here.