Fixed rates have never been so low

Australian home loan borrowers are enjoying amazingly low interest rates and great competitive loan deals at the moment. But how much can a fixed rates loan save you?

It is now possible to lock in a home loan rate for the next five years, until 20121, at 3.99 per cent p.a.

For a borrower with a $500,000 loan, currently paying 4.7 per cent, the monthly savings could be in the range of $200.

Source: The New Daily