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Fixed rates undercutting variable rates

23/06/2010

Some fixed rate mortgage rates are now lower than standard variable mortgage rates, with the prospect of more interest rates rises to come. That situation raises the question of whether it is a good time to lock in a rate now, before more rate hikes come into effect.

The best two year fixed rates are below 7.2 per cent from RAMS, BoQ, HSBC, Nationwide Mortgage and Commonwealth Bank. Three year rates can be found below 7.5 per cent from RAMS, Heritage, Westpac, NAB, Better Option Home Loans and Greater Building Society.

Source: Sydney Morning Herald



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Rates for a $250,000 standard loan. The 3 year tabs show loans that are fixed for 3 years.



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