It might be now or never for a fixed rate mortgage

If you are thinking about a fixed rate home loan, now may be your last chance to grab a great deal.

Fixed rate home loans are starting to be repriced by lenders. The current low rate cycle may have bottomed out.

Unlike variable rate mortgages, fixed rate mortgages are not linked to the Reserve Bank’s cash rate, they are priced according to rates in the money market and in the last month they have risen sharply. Fixed mortgage rates are starting to rise.

Source: The New Daily

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