All Topics / The Treasure Chest / Is it good time to fix

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  • Profile photo of sat2003sat2003
    Member
    @sat2003
    Join Date: 2003
    Post Count: 8
    August 29, 2003 - 1:46 am

    Hi,

    currently i am with ANZ standard variable rate of 5.97% and i have been constantly watching that fixed rates are increasing slowly.i missed th eboat when the fixed rates(5 years ) was low by 5.8%
    i have a loan for 350K and so i am thinking of fixing it now.iam getting 6.2% (for 5 years)

    Is 6.2 for 5 years a good rate to fix now?
    any suggestions please.?i live in NSW
    are there any other places which offer lesser rates than 6.2%(5 years)

    Profile photo of rippripp
    Member
    @ripp
    Join Date: 2003
    Post Count: 16
    August 29, 2003 - 3:16 am

    Hi there sat2003,

    From what Ive read the RBA is showing concern about the rate at which property prices have been rising and are considering putting interest rates up to things down.

    Also the banks have reduced the amount of home loan approvals in the last year indicating that they suspect rates will go up and these people wont be able to afford there loans.

    So now could be a good time to fix, but hey, who knows ?

    Profile photo of gocatsgocats
    Member
    @gocats
    Join Date: 2003
    Post Count: 12
    August 30, 2003 - 10:18 am

    I’ve always considered having a combination of fixed and variable on a loan as a prudent way to go in general terms.

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