Cheap fixed rates remain

There are some low rates to be had in the mortgage market. “The best one and two-year rates currently start at around 6.55 per cent. The best four and five-year fixed rates start at 6.69 per cent with quite a few below 7 per cent,” says Denis Orrock, general manager of InfoChoice. “But these rates won't last – already lenders have begun lifting fixed rates for new borrowers.”

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