Lock in a low rate before it's too late

Interest rates are currently at record lows however, they won’t stay this low forever. Don't wait until it's too late to secure a great home loan deal.

Rates are expected to rise soon, with speculation increasing that the United States’ Federal Reserve will lift the official cash rate, there's also growing speculation that Australia's Reserve Bank, and in turn our lenders, will follow suit.

Mortgage Choice CEO John Flavell believes it is "very likely" that home loan rates have now hit the bottom of the interest rate cycle.

While interest rates are still at record lows, it could be a good time to consider locking in a low rate fixed loan.

With your loan rate fixed, you’re protected against future rate hikes for the duration of your chosen term. 

It means no more worries about increased repayments if rates move higher, and as your repayments stay the same, it's easier to plan for the future.

Find out what's right for you, It's important to explore the pros and cons of fixed rate loans before deciding on the option that suits you. 

While they have their benefits, fixed rate home loans aren't generally as flexible as variable rate loans, and you may have fewer opportunities to make extra repayments.

There’s a lot to weigh up, and that's why it is so important to speak with Mortgage Choice expert to see what's right for you.

For more information contact Tim and the team today.

 

 

Posted in: Property market

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