Rush to fix home rates
Banks reported a rush of homebuyers to fix rates on their home loans yesterday after the Reserve Bank lifted interest rates again this week. National Australia Bank said about 50 per cent of its customer base has shifted to fixed rates; three months ago the percentage was about 20 per cent. The bank said that people are moving into three-to-five-year fixed-rate loans, expecting rates to go up over the next few years.
Is it too late to fix?