The lender has reduced its three-year fixed rate loan by 32 basis points to a record low 3.67 per cent, with a 3.88 per cent comparison rate.
The offer is available to owner-occupiers who are repaying principal and interest, with a maximum borrowing amount of $500,000. A $350 rate lock fee also applies.
Loans.com.au managing director Marie Mortimer said uncertainty around the future direction of the cash rate presented an opportunity for the online lender to offer “the cheapest fixed rate seen in our lifetimes”.
“Frankly, we think other lenders have been too timid and should be offering lower rates,” Ms Mortimer said in a statement.
“There is now a terrific opportunity here for borrowers to lock in a record low fixed rate before market sentiment changes and three-year rates start rising again.”
The move by Loans.com.au comes after the RBA’s decision to keep the cash rate steady at 1.75 per cent, with last week’s stronger GDP figures calming fears about low inflation.
HSBC chief economist Paul Bloxham said given that the “driving factor” behind last month’s cut in the official cash rate to 1.75 per cent was the “surprisingly weak” first-quarter CPI print, the RBA will need to see the second-quarter CPI figures (due to be released in July) before it considers a further cut to 1.5 per cent.
[Related: Suncorp reveals new mortgage rates]