Just documenting Westpac's rates (as of 19/3/09): 6.49% pa, 5 year fixed, with a 0.2% pro pack discount that's 6.29%.
Unfortunately westpac has no offset against a fixed rate loan, I believe..
Witzl, why are you looking at locking in for 3 yrs compared to, say, 5 years?
You may well be coming out into rapidly rising rates at the end of 3 years, whereas 5 years might mitigate that risk.