ANZ Bank will cut its variable mortgage rate by 0.25 percentage points, moving for the second time in 10 days as funding costs ease.
Effective from Monday, October 27, the interest rate on ANZ's standard variable rate home loan will fall by 25 basis points to 8.32%.
http://business.theage.com.au/business/ ... -5334.html
Why it takes 10 days to drop and instantly to rise...one of the immutable laws of nature....