Now is perfect time to lock in a fixed rate

Now is the perfect time for borrowers to lock in a competitive fixed rate, several mortgage experts claim.

46 lenders have slashed the interest on their three year fixed rate products since July – taking the average fixed rate home loan to its lowest level in over three years.

Aussie’s Matthew Rogers said fixed rates are now so low that borrowers wouldn’t be doing themselves a disservice if they locked in their mortgage. “I tell my clients that if a fixed rate home loan has a five in front of it, then it is definitely worth considering,” he said.

Suncorp’s Steven Heavey said, “The fixed rates on offer at the moment are incredibly competitive and borrowers would do well to lock in part or all of their mortgage.”

Source: The Adviser