Browse Forums Home Finance Re: Home loan interest rate bottomed out in Australia? 2Jun 02, 2017 12:51 pm Rebecca Jarrett-Dalton Property crazy expert mortgage broker, love building new homes! Two Red Shoes mortgage broker http://www.tworedshoes.com.au/building Re: Home loan interest rate bottomed out in Australia? 5Jun 04, 2017 4:01 pm Hi Preeeth, As Bec alluded to, the prediction of what happens to rates is anybodies guess. Even the so called "experts" get it wrong a lot of the time. In my opinion, fixing rates isn't about "beating the bank" as you will most likely lose, but more a necessary choice due to individual circumstances. Can you afford repayments if they by chance increase by say 1-2 percent in the future (if going variable), or do you need certainty in repayments for budgeting purposes because cashflow is tight and you will be living paycheck to paycheck? That's the prime reasoning behind choosing fixed rates. The other point is (as Bec also made mention) is if you already started construction and have had your loan approved, to get it changed at this point in time might not be possible, and you might have to wait until construction is finished. Cheers, Tom Re: Home loan interest rate bottomed out in Australia? 6Jun 05, 2017 11:13 am preeeth Thanks Bec... so from your experience do you suggest to lock interest rate at 3.88, or can I expect anything lower than this for owner occupier P&I loans in this year. Rebecca Jarrett-Dalton Property crazy expert mortgage broker, love building new homes! Two Red Shoes mortgage broker http://www.tworedshoes.com.au/building Re: Home loan interest rate bottomed out in Australia? 7Jun 07, 2017 7:19 pm Thanks Tej, Tom and Bec...your inputs have created good awareness on fixing rate, with this I will be able to assess my situation and make wise decision on interest rates 😄 The biggest challenge will be if you take out a loan and then run out of money - you'll have an incomplete security and lenders do not like this so you can get stuck.… 2 20049 Hi, you've probably already resolved this, however, Commbank will probably pay the funds to you after you send evidence the work is done regardless the change in the quotes. 1 36550 Hi there, I hope someone can give me some insight into a (very lucky) situation I'm dealing with. My Mum was gifted property by my grandfather after he passed. My… 0 718 |