Australian real estate news
Australia’s leading mortgage broker and non-bank lender, Aussie Home Loans, today threw down the gauntlet to the major banks, dropping its three year fixed rate to below seven per cent – which is lower than the major banks’ average standard variable rates (SVR). It is the first time since February 2009 that 3-year fixed rates have
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Aussie drops Fixes Rates Below 7 Per Cent: Lowest in the Market
Several lenders are offering big cuts on fixed rate home loans, according to Loan Market.
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Fixed rates become more competitive
The gap between variable and fixed rate mortgages is closing and borrowers, usually reluctant to pay a premium for interest rate certainty, are starting to move into fixed rates.
bankingday.com
In an environment where banks are looking for stable borrowers, those who’ve comfortably serviced a mortgage at a fixed rate of around 7.5 per cent to 8.5 per cent will be favoured, which may give more negotiating power to those just coming out of their fixed rate period, said Smartline Personal Mortgage Advisers managing director Chris Acret.
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Increasing negotiating power on interest rates
As a general rule most people are better off sticking to a variable rate for their home loan rather than a fixed rate, according to RateCity chief executive officer Damian Smith.
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Better off with variable
As a general rule most people are better off sticking to a variable rate for their home loan rather than a fixed rate, according to RateCity chief executive officer Damian Smith.
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Better off with variable
New mortgagees have recently doubled the Australian market share of fixed rate loans from just below one per cent in January to more than two per cent in February, according to Mortgage Choice home loan February data.
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Fixed rate loans gain market share
