The financial doom and gloom looks to be presenting a silver lining for would-be home buyers, with one building society now offering a fixed-term mortgage under six per cent.

The Greater Building Society on Friday announced it had lowered its fixed one-year loan to 5.94 per cent.

It also lowered its three-year loan to 6.35 per cent.

“The Greater Building Society has today announced Australia’s lowest home loan rate, taking its one-year fixed home loan below six per cent per annum to 5.94 per cent per annum,” the building society said in a statement.

“The Greater has also reduced its three year fixed home loan rate to 6.35 per cent per annum.”