January 10, 2013
Welcome to 2013 - the year of competitive home loan products and a buoyant WA real estate market!
Rates have never been so low and the banks are competing for your business so we thought we'd provide you with updated information about mortgage products and the home loan market throughout 2013, to help you make your next property finance decision an informed one.
The first topic - Fixed or Variable Interest Rates? The national mortgage broker’s home loan figures show that after four consecutive months of rising appetite for fixed rate home loan products, borrower’s interest in the more conservative loan type tapered off in December, falling below the 12-month average. With the RBA indicating their may be some more moves downwards in 2013, people are divided as to when the right time to fix is.The most important thing to remember is you need to choose an interest rate based on what is most suitable for your long term goals.
You need to consider things like when you may need to restructure the debt and how much flexibility you want with your repayments.
Learn more about fixed vs. variable rate loans by watching our video blog below...
If you would like to discuss your options further, give our team at Mortgage Choice Joondalup a call today on (08) 9485 0090.
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