Cheapest on the market at around 3.5%, but plenty reporting/reviewing that they increase rates a few months later, even without any changes in the official rate.
Any experience?
Reduce Home Loans
teasatotalling on 09/11/2017 - 12:00
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The reviews I have read are that they change the rates far more often than the main banks, when there is no change in the official rate
I am interested in the longer term also
There is speculation the RBA will lift interest rates in 2018.
If you can secure a sharp fixed 2 or 3 year rate, you may be well served to consider that option?With variable rates, you are at the mercy of the lender.
There is a history of lenders increasing rates, contradictory to the RBAs decision on the official cash rate.I did also catch an interview with a fellow who predicted the last GFC.
He is warning the potential is growing for a GFC to occur again, which based on the last GFC crashed interest rates and house values.
Make of it what you will: https://www.youtube.com/watch?v=0n5tLWGb4CYRBA don't have balls
They know the party is over and hungover kicks in as soon as they raise the %
Little do everyone knows that the music already stops.
Yes, investors that have bought in at the top of the market will start to feel the dropping demand for rentals, thus the reduction in rental rates.
A % raise of interest rates will trigger a mass sell off.
The Q is, how long can the RBA deny the inevitable
Adelaide bank offer good fixed rates at 5 years
I've been with reduce for 2 months now (first home PPOR OO P+I)
so far so goodthere is some good feedback on whirlpool forum claiming no change in rate for OO P+I for the last 9 months
there is also bad feedback on IO investment loans going up - those I can understand as they are by nature more speculativeI can never make up my mind to go ahead with fixed rate loans. What are your predictions on the future of interest rates considering stable Sydney Realestate and booming Melbourne market?
Yes. That's now these things work generally:
Variable rates: Cheaper but the banks can change them.
Fixed rates: Generally higher but you get certainty.