Browse Forums Home Finance Re: What's your mortgage interest rate? 22May 09, 2010 12:10 am Mimi79 I think it will be about 6.7% at this point? eta I think it was 6.1% in January so how many rate rises have we had since then? probably higher than that.. as we have had one in feb, mar, apr and may so you are probably at 7.1%. Re: What's your mortgage interest rate? 23May 09, 2010 10:59 am wakeboardandy Mimi79 I think it will be about 6.7% at this point? eta I think it was 6.1% in January so how many rate rises have we had since then? probably higher than that.. as we have had one in feb, mar, apr and may so you are probably at 7.1%. Hehe well that's depressing lol. Yeah I guess it would be at 7.1 then! Grrr. Re: What's your mortgage interest rate? 25May 10, 2010 11:03 pm I'm not a fan of fixed interest either. The progress in paying it off seems to be longer. It is good for those people who want to ensure they know exactly how much is going into their mortgage despite rate hikes. Also good knowing you can pay off your mortgage knowing the exact amount that is being deducted. We only need to pray it never gets to 17% or so like it did in the early 90's! WTF! Re: What's your mortgage interest rate? 26May 10, 2010 11:09 pm Luckily we fixed the land loan at 5.59%, but construction on variable at 6.39%............................. Re: What's your mortgage interest rate? 27May 10, 2010 11:11 pm We fixed the land loan too when interest rates were at their lowest. That was almost 12mths ago. Not sure what to do with the house loan-maybe a proportion fixed? Re: What's your mortgage interest rate? 28May 11, 2010 6:37 pm Mimi79 wakeboardandy Mimi79 I think it will be about 6.7% at this point? eta I think it was 6.1% in January so how many rate rises have we had since then? probably higher than that.. as we have had one in feb, mar, apr and may so you are probably at 7.1%. Hehe well that's depressing lol. Yeah I guess it would be at 7.1 then! Grrr. I just checked and it's 6.81 so it must've been lower than 6.1 originally. Re: What's your mortgage interest rate? 29May 11, 2010 7:26 pm Dollar I'm not a fan of fixed interest either. The progress in paying it off seems to be longer. It is good for those people who want to ensure they know exactly how much is going into their mortgage despite rate hikes. Also good knowing you can pay off your mortgage knowing the exact amount that is being deducted. We only need to pray it never gets to 17% or so like it did in the early 90's! WTF! With fixed interest rates down to 6.49% (6.67% comparison) for one year and 7.39% (6.95% comparison) for 3 years at the moemnt, you would think more people would be looking at fixing at least part of their loan. Re: What's your mortgage interest rate? 30May 11, 2010 8:05 pm Eager Pepto471 i Howcome none of the so-called experts advised people to fix their loans a year ago? You mustn't have been listening to the right experts. Early last year had the lowest interest rates ever. Those watching fixed. Unfortunately my hands were tied with most of mine. Most people that fix, lose out in the long run. The banks know what they are doing and are in the business of making money, not giving people discounts. If you were to fix I would only fix for a year. Re: What's your mortgage interest rate? 31May 11, 2010 8:36 pm I have actually never fixed, but recognise that last year would have been a good time to do so. Maybe I didn't pay attention to the experts because I wasn't that interested in fixing anyway, being quite comfortable with our (still) low variable rate on our comparitively small loan. I was good fun a year or so ago though, before interest rates dived we locked in a term deposit that was paying us 6% I think and when rates fell we were paying the bank 4.91% at the lowest point. We were making a handsome profit! Geoff - Decophile. Re: What's your mortgage interest rate? 32May 11, 2010 8:37 pm True right Glen. Right on the money. I think a proportion needs to be fixed-if you can have that fixed amount a bit more than the minimum repayment that always helps too. People I know had fixed their whole mortgage a few years ago and last year they were totally kicking themselves. Re: What's your mortgage interest rate? 34May 16, 2010 3:19 pm Rowena as of 10/5/10, 6.33% with RAMS Is that the RHG one? Re: What's your mortgage interest rate? 37Jun 01, 2010 9:39 am With the CBA MAV package your variable rates are discounted by between 0.4% - 0.7% depending upon how much in total lending you have with them. The 0.15% discount applies to the fixed rate loans. Having said that by the rate you are quoting you are getting the maximum of 0.7% if your rate is 6.66%. All of the majors and some of the non majors offer these professional packages which charge an annual fee of between $120 - $395 per annum for which you get NIL establishment fees when setting up the loans, NIL fees moving forward, nil fees on credit cards that you put under the package, nil transaction fees in transaction accounts, 100% offset accounts and a range of other discounts of insurances, personal loans etc. The main difference between them all is what the valuers will value your property at (Equity) and how much lending they will give you for the same income (Servicing). They are generally a good way to go if you are looking for low rates combined with full featured lending - not a great deal of difference between them all - minor rates difference and package deals - but nothing worth moving your lending over as the costs would outweigh the savings plus you also then have the inconvenience of moving all of your banking connections such as accounts, direct debits and credit etc. So you are on a good package that will continue to save your money over time and work with you in the future. Re: What's your mortgage interest rate? 38Jun 04, 2010 9:53 pm 6.68% wealth package CBA, no fees Land - Northerly Estate, Piara Waters Titles Issues 05 April 2010 Building with Ross North Homes Prestart Completed 12 April 2010 Finance Approved 01 May 2010 Slab down 29 May 2010 Frame Completed 28 June 2010 Roof Completed 22 July 2010 Lockup 12 August 2010 PCI 24 Sep 2010 Handover 08 Oct 2010 Building Thread https://forum.homeone.com.au/viewtopic.php?f=31&t=32295&start=0 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 40057 Broker here - legislation says that every true broker must put the clients best interests before theirs so in theory they must offer you the best options for you on their… 2 46144 The worst thing you can do is sign a building contract without a pre contract review. 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