It might be time to fix your mortgage rate

Many lenders are offering fixed rates below five per cent for long terms up to five years.

ANZ interest rate strategist Zoe McHugh said Australian bank rates are too low and the Reserve Bank may need to raise official interest rates.

 Leading economists Paul Bloxham at HSBC and Scott Haslam from UBS have also commented that the Australian economy is doing well and more likely in need of higher rates in time.

Source: Business Insider