3 & 5 year fixed rates thread

[JIT]

Keithj,

Would be interested in your thoughts this time round if you're reading... ?

 

[Deltaberry]

Citibank 3 years for 5.94% is the new leader.

Think that's the old rate. Wonder if new rate cut would lead to a slight reduction... though it's already pretty low.

But ECB might cut rates tomorrow night too...

 

[Rolf Latham]

Heritage 5 years for 6.39% is the leader in this category, seems pretty good for 5 years.

With the added benefit of no max repayments AND redraw !

ta
rolf

 

[JIT]

Not sure if this is a typo on the website, but SGE 5 years for 6.29% ??

 

[silverx]

that's abit too long isnt it? how many people have fixed for 5 years here?

 

[BMan]

if you can fix it for positive cashflow then its not too long
a sub 6 and id fix for 5 yrs

 

[silverx]

hmm i suppose, if there is 5.99 for 5 years i might be tempted as well

although seeing the cost of funds are increasing, it would be surprising if they can lower the rate from what it is now

 

[JIT]

We have some more movement from ANZ at 5.80% for 2 years now, lowest fixed rate available at present.

Waiting to see more action from CBA, NAB, WBC......

 

[Project M]

Heard from AMP CPA package 5.84% for three years and expected a drop 25 points next monday. That has to be the best so far. I am in to find out more about fees and comparasion rate.

Any one is using comparasion rate as a reference for benchmarking products at all?

 

[Rolf Latham]

Any one is using comparasion rate as a reference for benchmarking products at all?

Only if you calculate it yourself from the actual data that applies, not the airey fairy official method, which tries to compare carrots to oranges because they are the same colour.

The biggest issue with Fixed CR rates is what the ROLL rate is at the end of the fixed period..................

ta
rolf

 

[skater]

Heritage Building Society is now 5.95 for 3 years.

 

[roger horton]

Only if you calculate it yourself from the actual data that applies, not the airey fairy official method, which tries to compare carrots to oranges because they are the same colour.

The biggest issue with Fixed CR rates is what the ROLL rate is at the end of the fixed period..................

ta
rolf

Hi Rolf,
Pardon my ignorance but I've not heard of the term "Roll rate" before; are u referring to the rate you go back to at the end of the fixed rate period?
Cheers

 

[roger horton]

Heard from AMP CPA package 5.84% for three years and expected a drop 25 points next monday. That has to be the best so far. I am in to find out more about fees and comparasion rate.

Any one is using comparasion rate as a reference for benchmarking products at all?

Hi

I've just spoken to the AMP people and they confirm the current 3 year rate is definitely 5.99% and not 5.84%; they confirmed no further .015% discount! They also said the .025% further move was still just associated with the RBA December rate cut and that this further move was relevant only for the variable rate.

So unless informed otherwise their 3 year rate sits at 5.99%
Cheers
Roger

 

[mystery]

Also interesting to note that the lowest 3 year rate from the 4 major banks is 6.19% with ANZ and WBC.

Just noticed on this site : http://interestratenews.com.au/full_doc_mortgages.php That ANZ has dropped 2 year fixed rate down to 5.80%. 3 year fixed rate now 6.14%.

Mystery

 

[Project M]

Roger, you will need to be CPA member to get 15 points off from AMP fix rate. It is affility package. No package fee as well.

Is any one a AMP customer or used to be here? Any good , bad experiences?

 

[Mick C]

Roger, you will need to be CPA member to get 15 points off from AMP fix rate. It is affility package. No package fee as well.

Is any one a AMP customer or used to be here? Any good , bad experiences?

Available to CPA, Doctors, medical industry,Engineer's, lawyers and a few more industry/association.

AMP affinity Groups


Regards
Michael

 

[Mick C]

Roger, you will need to be CPA member to get 15 points off from AMP fix rate. It is affility package. No package fee as well.

Is any one a AMP customer or used to be here? Any good , bad experiences?

Good overall lender. Poor policy concerning construction though.

Regards
Michael

 

[roger horton]

Roger, you will need to be CPA member to get 15 points off from AMP fix rate. It is affility package. No package fee as well.

Is any one a AMP customer or used to be here? Any good , bad experiences?

Project M, thx for pointing that out.....cheers Roger

 

[eggnog]

Hi Mr Chan. What if you are a member of say the Public Sector Union and get the 0.15% off fixed 3yr loan. Then sometime into the fixed loan you leave the union, maybe through a change of employer. Will AMP revoke the discounted rate for being in the Public Sector Union.

 

[roger horton]

Project M, thx for pointing that out.....cheers Roger

I found out from AMP this morning that the RBA 25 point cut from December will be reflected in their variable rate structure come this Monday but could not guarantee it would necessarily have any affect on their fixed rates.