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27th August 2020 04:51 PM
#1
Senior Member
Golf Hall of Fame Inductee
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?
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27th August 2020 07:41 PM
#2
Senior Member
Golf Hall of Fame Inductee
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
--
Criticism doesn't bother me, as it means I am doing something and people are watching.
Handy-Cap
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27th August 2020 07:43 PM
#3
Senior Member
Major Winner
1 year, then you can refix or refinance if rates go to shit
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27th August 2020 10:51 PM
#4
Senior Member
Touring Pro (European Tour)
Originally Posted by
3oneday
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.
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27th August 2020 11:25 PM
#5
Senior Member
Touring Pro (PGA)
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.
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28th August 2020 06:24 AM
#6
Admin Team
Golf Hall of Fame Inductee
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