It’s got to be the question I’m asked most often: Jess, should I fix in the interest rate on my home loan?
The average borrower taking out a new fixed-rate loan for a term of three years or less last May paid an historic low of 1.95 per cent, according to Reserve Bank of Australia data. That’s about the time I fixed the bulk of my own mortgage with an interest rate of 1.84 per cent for two years. Then there were a cluster of products from smaller lenders at 1.99 per cent, including online only lenders 86 400 and Well Home Loans, and smaller banks Greater Bank , Police Bank, Geelong Bank , Unity Bank, RACQ Bank and Bank of Heritage Isle . Southern Cross Credit Union is also still offering 1.99 per cent for a two-year fixed period.However, I think it’s an important reminder that there are a range of players in the mortgage market.
So, if you are prepared to act fast and have a roving eye beyond the big-four banks, there are still sub-“2” fixed-interest rates available. This is also true for variable-rate home loans. Homestar Finance and Pacific Mortgage Group are both offering 1.79 per cent to borrowers with less than 60 per cent LVR. Well Home Loans is offering 1.82 per cent on its “Equity Plus” variable-rate loan and Freedom Loans 1.84 per cent for sub-60 per cent LVR borrowers.
Of course, variable rates leave you exposed to future interest-rate hikes, and the degree to which lenders choose to pass them on.
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The wide-ranging effects of US inflationMarkets are still pricing in interest rate increases that are way below where the US Fed thinks it is going in the next couple of years.
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Homebuyers have ‘window of opportunity’ to get ahead before rates riseWith interest rates on the way up, it is not only variable-rate mortgage holders that will feel the pain. Those who have fixed-rate loans are almost certain to see higher payments when the fixed term of their loan expires. jcollett_money No, Is this referring to home OWNERS, and recommending they pay down their mortgage as much as possible before rates rise? Because if it really DOES mean home-BUYERS, then that’s just nonsense - house PURCHASE prices won’t drop until RATES RISE. jcollett_money 😂😂 clowns at Sydney morning heard with the fear porn. Rates are never going to rise, they have been trending down to zero for 30 years. How many times have they said they will lift them and they always go the opposite way. Have fun staying poor if you listen to this shit jcollett_money Nope. Not the ‘window of opportunity’ but a ‘door to disaster’. Someone mentioned that housing prices never went down. Well it was true because the interest rates were going down. Now interest rate will go up and will push home equity and the price down.
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Homebuyers have ‘window of opportunity’ to get ahead before rates riseWith interest rates on the way up, it is not only variable-rate mortgage holders that will feel the pain. Those who have fixed-rate loans are almost certain to see higher payments when the fixed term of their loan expires. | jcollett_money ... jcollett_money Interest rates going no where, if not fall. The average family with 2 kids need $80- $100,000/year, before they walk out the Front door of their Home. jcollett_money When their fixed terms expire. Exactly. I remember being told I was mad to fix - for five years. Who’s mad now? jcollett_money Who says there going up MSM ?
Source: theage - 🏆 8. / 77 Read more »
US inflation is surging and rates will rise in March, so how long can the RBA hold fire here?Despite surging inflation in the US and elsewhere overseas, the Reserve Bank of Australia thinks it has more time to wait before raising interest rates. But perhaps not as much time as some recent mortgage borrowers were counting on, writes Michael Janda. Oregon late A.G. Frohnmayer'd deleted all records in L.C. It shows I'd changed my name to Nadia Sindi.Lift my old name Faika M. Sindi.Changed first letters of my old name to Saika Findi!Trapped me in a criminal record since 1987! The trade deficit numbers are the latest solid evidence that the US is highly dependent on other countries, particularly China LET'S GO BRANDON
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