Over the past few weeks a number of lending institutions have reduced their fixed interest rate loans without warning. Some have cut theirs more than once - St George is a prime example: they cut their 5yr fixed rate last week to just 5.99%, and then reacted to their parent company (Westpac) matching that headline rate, by cutting again on Tuesday - to 5.89%. Gotta love it when a bank falls over itself to outdo ... well, itself!!! Not that smart some of our bank executives.