Time running out for good fixed rate loans

The fixed rate boat will soon set sail, 1300HomeLoan managing director John Kolenda has claimed.

“Last month was probably the best time to consider fixing as generally fixed rates bottom out three to six months before variable rates,” he said.

“The best fixed rates in the two and three year products have already come up by 20 to 30 basis points.”

Mr Kolenda said there are still some good opportunities. “Borrowers who are hesitant about fixing their entire mortgage can look at fixing part of their loan to get certainty for a period whilst also having flexibility with a variable rate.”

Source: The Adviser