The month of March saw an increase in requests for fixed interest rates on home loans and over the next few months we expect this trend to increase.
15 of Australia’s major banks will soon be forced to comply with new rules that limit short-term wholesale funding. If this results in higher costs for the lenders, it would seem highly likely that the lenders will recoup their loss via higher rates for customers.
While variable rate home loans will always be the preferred choice of borrowers, it might be worth thinking about locking in at least part of your mortgage to a fixed rate. That way, you can 'have your eggs in two baskets'.
Call me on 07 5562 0748 or email me firstname.lastname@example.org if you would like to discuss refinancing your current loan. Its quick, usually no out of pocket cost and can save you thousands of dollars per year.