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  1. #1
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    Default Interest rates, to fix or no?

    Currently on 2.9%, can fix for 1 or 2 years at .75% less.

    With the cash rate at .25%, what are the chances of it going negative by half a percent? I would have thought not much chance, plus banks wouldn’t pass it all on anyway?

    Any pundits/experts?

  2. #2
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    I always fix 2/3 of my loan and leave the rest variable, and chip away at that. Its always worked out better for me in the long run...... last 2-3years excepted. When the next renewal comes around i will fix again, no hesitation
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  3. #3
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    1 year, then you can refix or refinance if rates go to shit


  4. #4
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    Quote Originally Posted by 3oneday View Post
    Currently on 2.9%, can fix for 1 or 2 years at .75% less.

    With the cash rate at .25%, what are the chances of it going negative by half a percent? I would have thought not much chance, plus banks wouldn’t pass it all on anyway?

    Any pundits/experts?
    Former pundit.

    Whilst I think the RBA are perhaps the most useless of all the quangos, I suspect that even the fools that work there realise that dropping rates any further will have exactly the same effect that the previous drops have had.....zero, except to further **** retirees.

    Might as well take the cheaper fixed price, and pay down the variable hard.

  5. #5
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    With rates so low the difference is negligible but we much prefer the flexibility of 100% variable rates.

    There is a reason why Fixed is made to be so attractive - because since exit fees were abolished it’s really the only way to financially penalise a customer if they want to leave.

  6. #6
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    I notice the new Fixed Rate Lock option, around $750. Nasty. The banks are getting money from the government at 0.25% for 3 years which is one of the reasons why we have the very low fixed rates at the moment. There are rates around the world under 2% so it's not like variable can't get there.





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