Split the loan into two components 80/20 balance is good - with the extra repayments against the variable component.
Browse Forums Home Finance Re: Would you 'fix' now? 21Mar 07, 2009 2:04 pm serge44 so long as you are able to make extra payments on the fixed .... Split the loan into two components 80/20 balance is good - with the extra repayments against the variable component. Re: Would you 'fix' now? 22Mar 07, 2009 2:51 pm Scuttlebutt!
I heard a whisper that Wespac will be offering 3.99% fixed for three years starting tomorrow, for a short time only. I hope it is true! PP Re: Would you 'fix' now? 23Mar 07, 2009 5:11 pm Purple Patch Scuttlebutt! I heard a whisper that Wespac will be offering 3.99% fixed for three years starting tomorrow, for a short time only. I hope it is true! PP Westpac fixed rate loans cap our extra repayments at $15,000 over the 3 years. What are the odds of two first home buyers having the extra cash above $15,000 to make further repayments during their first 3 years out of home (from their parents house). Given the costs of moving in, driveway, landscaping, fitting out our first house I'd guess it would be very low. Will definately have to consider fixing the loan at that rate. Re: Would you 'fix' now? 24Mar 07, 2009 5:18 pm NO way would you fix at the moment... We are only at the start of our recession.. most economists predict we are going to go down the same path as America.. So we have many more years before we are out of the downward spiral... Fixing now is just stupid in my opinion. That 5% you are talking about Ed is a 30 year fixed loan in America. We don't have rates that low for 30 years.. no where near it..
my 2c... Re: Would you 'fix' now? 25Mar 07, 2009 5:25 pm wakeboardandy NO way would you fix at the moment... We are only at the start of our recession.. most economists predict we are going to go down the same path as America.. So we have many more years before we are out of the downward spiral... Fixing now is just stupid in my opinion. That 5% you are talking about Ed is a 30 year fixed loan in America. We don't have rates that low for 30 years.. no where near it.. my 2c... You are forgetting that at some point bank interest rates will decouple from the RBA official rate. Banks will not be able to raise lending capital at rates below 2-3%. If a banks cost of capital is 3% lending interest rates are going to be at least 4%. Re: Would you 'fix' now? 26Mar 07, 2009 5:48 pm wakeboardandy NO way would you fix at the moment... We are only at the start of our recession.. most economists predict we are going to go down the same path as America.. So we have many more years before we are out of the downward spiral... Fixing now is just stupid in my opinion. That 5% you are talking about Ed is a 30 year fixed loan in America. We don't have rates that low for 30 years.. no where near it.. my 2c... Hi Wakeboardandy... Fixed in USA is increasing... http://www.chicagotribune.com/business/ ... 4120.story and so is variable... http://www.chron.com/disp/story.mpl/bus ... 96678.html Quote: In other news...• The average rate on a 30-year fixed mortgage increased to 5.15 percent this week from 5.07 percent last week, mortgage giant Freddie Mac said. A year ago, the 30-year fixed-rate mortgage averaged 6.03 percent. This week’s average rate on a 15-year fixed-rate mortgage rose to 4.72 percent from 4.68 percent. Average rates on five-year, adjustable-rate mortgages increased to 5.08 percent from 5.06 percent. Rates on one-year, adjustable-rate mortgages rose to 4.86 percent from 4.81 percent. Ed "ECOECO" At 'EcoEco', we design windows, we design the best windows, we do it for you, so that when you’re happy we are happy. Tel. 1800 326 326 Re: Would you 'fix' now? 27Mar 07, 2009 5:52 pm Hi Ed,
Yeah but when comparing fixed rates.. cba has a 6.99 rate but that is only for 15 years... If we had a 5% fixed rate for 30 years then that would be something to consider.. It means you know what you are paying for the entire life of your loan! WBA Re: Would you 'fix' now? 29Mar 07, 2009 6:12 pm wakeboardandy Hi Ed, Yeah but when comparing fixed rates.. cba has a 6.99 rate but that is only for 15 years... If we had a 5% fixed rate for 30 years then that would be something to consider.. It means you know what you are paying for the entire life of your loan! WBA Yes, that's the way it is in the UK too... Even with low bank rates the mortgage rates stay high... http://www.independent.co.uk/news/busin ... 39419.html Quote: Halifax, the UK's biggest mortgage lender, is a case in point. While the bank has yet to respond to Thursday's reduction, during the five months in which base rates fell from 5 to 1 per cent, its mortgage rate came down from 5 to 4 per cent. That response is broadly typical across the home loan market, while the cost of other types of personal lending – particularly unsecured loans and credit cards – has, if anything, increased in recent months. "ECOECO" At 'EcoEco', we design windows, we design the best windows, we do it for you, so that when you’re happy we are happy. Tel. 1800 326 326 Re: Would you 'fix' now? 30Mar 07, 2009 6:40 pm That articles Ed posted indicate what I was talking about.
The banks cost of capital will not drop below a certain value because people will simply not give the bank money (wholesale money, the stuff that counts) at such low interest rates. So while the RBA may drop rates to 2% expect lending rates to be between 4% - 4.5% Re: Would you 'fix' now? 31Mar 09, 2009 8:49 am wakeboardandy NO way would you fix at the moment... We are only at the start of our recession.. most economists predict we are going to go down the same path as America.. So we have many more years before we are out of the downward spiral... Fixing now is just stupid in my opinion. That 5% you are talking about Ed is a 30 year fixed loan in America. We don't have rates that low for 30 years.. no where near it.. my 2c... not having a go at you but I find it funny when people quote economists' predictions... if they were any good we wouldn't be in this situation Re: Would you 'fix' now? 32Mar 09, 2009 10:14 am ed. not having a go at you but I find it funny when people quote economists' predictions... if they were any good we wouldn't be in this situation Well the economists predictions I read, are the same economists that predicted a recession and hence why I didn't fix my loan back in August last year. Blacktown Home Loans 33Mar 09, 2009 3:53 pm Helyn Can you get fixed rates in Australia for 30 years????? I thought 5 years was about the maximum term here You can fix your home loan upto 15 years, depending on the bank. Not many lenders will offer that. Bought in Nov 21 at the height of the market (classic). Good area, atrocious floor plan. BUT has land out to the left-hand side that we can extend out on (see second… 0 8775 Thanks mate. Yeah good points! Leaning towards Option 3 to get a bit extra space in the cabinets but not going too crazy high (and expensive). Would require a mini… 13 39726 Hi It came to my attention after the handover that - The facade cladding on the face and the side are not straight. -The face tapers down by 50mm from left to right and… 0 2467 |