ANZ 3 Year Fixed Rate

Viewing 6 posts - 1 through 6 (of 6 total)

Mobile Mortgage
Member
@mobile-mortgage
Join Date: 2003
Post Count: 913
October 22, 2004 - 7:10 am
ANZ have dropped there 3 year fixed rate from 6.70% to 6.55%
Effective as of Monday 25th October.
Regards
Steven
Mortgage Broker
[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
Ph:1800 820 500
VICTORIA
PLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.
Mortgage Hunter
Participant
@mortgage-hunter
Join Date: 2003
Post Count: 3,781
October 22, 2004 - 8:17 am
NAB has similar too.
Must be the new industry standard and reflects what they are fixing money at. Bodes well for likelihood of massive increases.
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985
Todays Hot Rate
3 year fixed – 6.57%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
October 22, 2004 - 1:15 pm
fixed rates have been dropping for a while, which means banks are not expecting a rate rise in the near future. I am locked into one loan at 7.10%!
Terryw
Discover Home Loans
North Sydney
[email protected]
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email Me
Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Andrew_A
Participant
@andrew_a
Join Date: 2003
Post Count: 392
October 23, 2004 - 12:46 pm
Terry,
Are the banks thinking that rates are likely to drop at all?
From a post I read at Ssoft from PittSt it would appear as if banks fix their profit in on both fixed and variable rates and their fixed rates are no indication whatsoever of their view on future rate movement.
WaySolid.
“Write the wrongs that are done to you in sand, but write the good things that happen to you on marble.” Arab proverb
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
October 25, 2004 - 12:02 am
maybe.
Terryw
Discover Home Loans
North Sydney
[email protected]
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email Me
Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Nat R
Member
@nat-r
Join Date: 2004
Post Count: 224
October 25, 2004 - 3:29 am
Definatley…as I keep saying there is no magic in how the banks set their fixed rates…they just go off they relevant swap rate…have a look in teh markets section of the Finacial Review under “swap rates”. The swap rate is where banks and corporates can lock in fixed borrow and lending rates for 1,2,3,4 out to 10 or more years forward.
The mortgage divison of a bank then decides what margin over the swap rate they are going to charge …not what the swap rate is.
BTW…I’m not making ths up …I do this every day!