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I don't have enough knowledge to understand the rate movements or economics behind it. So.. this is my simple theory. Fix 1/3 to 1/2 of loans if - the fixed rate is lower than the var AND - the bank is going to increase their fix rate

Apparently ANZ is going to increase their fixed rate tomorrow! Any one can confirm that?

May be removing the exit fees changed the game. May be that is why there are offering better 3 year fixed rate so that we can't move easily.

Lets look at it in a differnt way. Total pure profit for these 4 banks ~ $24,000,000,000.00 Number of households in 2006 ~ 7,600,000 (ABS) - Lets assume it is about 8,000,00 households. profit / households ~ $3000.00 profit on average per houshold!

Let's see how much profit they made last year. ANZ - $5.36 billion CBA - $6.394 billion NAB - $5.2 billion Westpac - $6.991 billion. They are really struggling aren't they?:rolleyes:

I called my mortgage manager (ANZ) to fix 33% of my loan for two years. He mentioned that lot of people are calling to fix it! It is lower than the current rate (variable - 1%) anyway... so can't go too wrong.

Time to fix??