Mortgage Business Fixed rates slashed over 2,000 times in 2020 By Malavika Santhebennur 08 January 2021 Lenders made almost 7,000 cuts to home loan interest rates in 2020, and 535 home loan rate increases, according to data. Figures released by Canstar revealed that between 1 January 2020 and 31 December 2020, there were 6,777 cuts to home loan interest rates, with an average cut of 0.30 per cent. The Canstar database showed that lenders made 2,455 cuts to fixed rates for owner occupiers, with an average cut of 0.33 per cent, while 880 cuts were made to variable rates for owner occupiers, with an average cut of 0.21 per cent. A total of 2,678 fixed rate cuts were made for investors, with an average cut of 0.32 per cent, while 764 cuts were made to variable rates for investors, averaging 0.21 per cent.