Forum Replies Created
- carlin wrote:Heard again that Reserve Bank likely to drop rate by full 1% before end of year.
So anyone able to respond to my second question in previous post? ie:…is it at all feasible that fixed rates will come down again??
In theory, It’s definitely feasible but I think if the RBA drop the rate by 1% over the coming year then the banks would probably only pass 0.4% of that on as they have shown their intent by passing on 0.1 for every 0.25, in regards to variable rates.
This seems to be a little battle that has been won by the banks, although I dare to say and only in my opinion – anybody with a variable loan and/or looking to fix their loan just now, would feel completely aggrieved with this. It would be nice to have more but we are maybe just going in for the kill.
Most banks appear to have raised all fixed rates over 2 years based on what is the supposed global economic outlook ( a return to normalality, with a sprinkle of scepticism ) and increased anything above that by the same and maybe a little more.
My gamble is taking a 2 year fixed amount for 5.29% ( in relation to Rams ) for a portion ( 70% ) and leaving the rest variable. Maybe I can fix some of the lower portion if rates drop a little more
Please feel free to crucify me if you think I’m a complete idiot.
Hi Ajax,
So they share the same office, phone line and stationary but are separate companies that charge you exit fees , set-up fees and mortgage insurance if you moved your loan from one side of the office to the other !
Do you know if this is quite normal with other lending institutions?
I have just received the pin # for the online access on Rams letterhead, with Rams details rather than RHG this time but the signature is the exact same for RHG and Rams customer service.
Imagine having such a beautiful signature that you can work for two separate lenders !
