Home loan - fix interest rate

[mk1]

Hi guys,

Anyone recently fixed their home loan interest rate, what did the banks offer you?
Is it a good idea to fix it while it is low?

Cheers

 

[supersunbird]

Well, they (economists and such) expect the interest rate to remain low for the next 12 to 18 months, there might infact still be another small cut. Best is to wait a bit and then see.

Don't know what they offer though, last time I asked (early last year) it was 2% higher than what my current was.

 

[Wyzak]

Yeah... they don't fix it at the current rate, they fix it at a certain rate above what it is now. Probably between 2 and 3%. On the normal see-saw of interest rates you will be better off leaving it variable. If something drastic happens then having it fixed will be best. Although they will only fix it for a year or two.