As we are currently in a low rate market, some clients are choosing to fix their rates to take advantage of these historical lows.
This gives them the peace of mind that they will know what their loan repayments will be each month and any interest rate increases will not affect them during the fixed rate term. So if the rate goes up during their fixed rate term they will benefit from the lower rate that they fixed at.
However, fixing your rate isn't necessarily a suitable option and depends on your financial situation.
Watch our video to learn more about fixed vs. variable rate loans...
So contact me today at Mortgage Choice in Blackwood & Mitcham on (08) 8178 0700 to discuss the best option for your loan scenario. It's never a bad idea to get a Free Home Loan Health Check!
Charlotte Gray, Loans Consultant
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