We still don’t know the answer to that one - however, the past week has seen some lenders lower their fixed rates to record levels
Three of Australia’s largest banks have lowered their longer term fixed rates to less than 5% - the first time that the major banks have dropped their rates to less than the 5 percent mark for 5 years.
So, now borrowers are able to lock in at these historically low rates over the longer term.
Great news for our customers from the RBA
On 1 July, 2014, the RBA opted to leave the official cash rate on hold for the 11th month in a row. On present indications, it is likely that the cash rate will remain unchanged for some time yet.
Put simply, it doesn’t look as though home loan interest rates will increase in the near future.
Time to take advantage of low rates
Now is a great time for customers to lock in at a highly competitive fixed rate.
If you are looking for a longer fixed term, we now have 5 Year Fixed Rates available from 4.99%!
If you are giving thought to fixing part or all of your loan, how about this product currently on offer from one of our lenders? It features:
- a fixed rate with 100% offset account
- the ability to make unrestricted principle reductions
- the ability to redraw, so you still have access to your funds
Currently priced at 4.99% for a 3 year fixed term this one is worth considering.
Act now to reap the rewards
With interest rates continuing to hover around record lows, it seems a good time for potential buyers to seriously consider entering the property market.
Want to find out more about how you can benefit from these low home loan interest rates?
Call Colin or Jenny today on 3262 7555 for expert advice.