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Cheers for that :) You learn something new everyday ey...

Ahhh, so the comparison rate given for "five year fixed" is actually a comparison of what the cost would be the loan was taken out for the full 25 year period and not just for the "fixed rate period"?

How come? Obviously you think it's not accurate but am interested to know why you think that. I thought the whole point of the comparison rate was to give an easy comparison, wasn't aware that it was no good....:confused:

When you guys are quoting rates are you quoting comparison rates or the the straight out rate???

Na that just means you got it wrong and I got it right :p

That's funny because the last time I fixed my rates it saved me money. So even with the benefit of hindsight that person is wrong.

Wizard went to CBA and GE ( I think?) a while ago if I'm correct? I had a wizard loan and got correspondence to say CBA was taking it over a few months ago.

Can someone point out if there is any flaw in my thinking.... if you are considering locking in your rates, and the choice is between 3 or 5 years, there is really no disadvantage in choosing the longer term over the shorter is there? What I mean is if you need to break the fixed rate contract...

Probably recommending because they know of the impending doom that awaits so many new home buyers once things start to go up again.