Is now a good time to lock in a fixed rate mortgag
Home loan interest rates are now at historic low levels – so is now a good time to lock in a fixed rate mortgage?
Many borrowers are resisting fixing because they expect the Reserve Bank to cut rates further.
But mortgage holders who locked in a low rate 12 months ago have come out more than $1,000 in front today.
The average one-year fixed rate 12 months ago was 4.83 per cent. The average variable mortgage rate was over five per cent.
Source: Herald Sun