Citi at 5.75........
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3 & 5 year fixed rates thread
- Thread starter JIT
- Start date
Bendigo have dropped their fixed rates again.
3 year fixed
8/7/2011: 7.79
8/8/2011: 7.19
22/08/2011: 6.49
28/11/2011: 6.39
16/12/2011: 6.34
One year rate: 6.59 -> 6.29
Two year rate: 6.39 -> 6.24
3 year fixed
8/7/2011: 7.79
8/8/2011: 7.19
22/08/2011: 6.49
28/11/2011: 6.39
16/12/2011: 6.34
One year rate: 6.59 -> 6.29
Two year rate: 6.39 -> 6.24
St. George 5.99% 2 years 
Hey yeah I know about this and am seriously thinking about locking in at this rate. I think theres a chances it may go lower in the next 6 months, but still, this deal is almost too good.
What's everyone else' opinion? Anyone biting or holding off?
Holding off.
until your 4.99% becomes due to roll over
from memory there were a few SS investors that got in on the WBC 2 week window a couple of years back
until your 4.99% becomes due to roll over
from memory there were a few SS investors that got in on the WBC 2 week window a couple of years back
Yep!
until your 4.99% becomes due to roll over
from memory there were a few SS investors that got in on the WBC 2 week window a couple of years back
That was coming up 3 years ago I fixed
WBC even let me lock in a few loans (previously fixed soon to expire) at the low late a month later than the offer expired
You got it super right 3 years ago.
Would appreciate a hint where you will park your loans.
Ideally Im wanting the RBA to drop the cash rate 25bps each time when they sit in the February & March next sittings and watch the lender/banks reaction in relation to their 3 year fixed rates. If I can secure a sub 5.5 then I will lock in.
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I'm interested in what people think about recent reports of 3 x large Japanese banks looking to get into the Oz mortgage market. Ultra conservative japanese citizens invest in deposits at their banks earning 0.1% (that is a 10th of 1 percent!) with the the banks then on lending this money at also woefully low rates. So the Japanese banks have realised their local economy will not suffice and they are now actively looking to lend wads and wads of money to international customers (ie; eg; Oz mortgage market being one of these). This would have the impact of seriously undercutting the Oz major banks. I saw Wayne Osmond (mortgage broker) interviewed on Current Affair quoting mortgage rates could be offered for as low as 5% or even 4% or lower!. Wayne Swan was also shown as being supportive of competition for the majors. Apparently 3 major Japanese banks have already set up HQ's in Sydney awaiting regulatory approvals before they hit the market. This all sounds too good to be true.??
I presume the OZ regulators would not allow potentially disruptive undercutting but it sounds quite positive for consumers. What do people think? Imagine fixing loans similar to the Japanese, US, UK, etc at rates like 3.5% for a few years.
Any Japanese bank that comes here has currency risk, even if their interest rates over there at 0%. Why would they suddenly offer rates so much lower than the majors here? Best strategy is, of course, to match or just be below, the market rate of their competitors. Otherwise they are just selling themselves short and not compensating for the additional currency risk they have.
My apologies but the TV show airing this story was "Today Tonight".
The show also mentioned that Arab and US banks were keenly following the progress of the Japanese banks 2012 foray into OZ.
I presume the Japanese banks will hedge currency risk within their overall pricing strategy. Sourcing funds at close to nil % is a good starting point nevertheless.
How good is this?? Just think, the exorbitant 2+% uplift charged by the big 4 on top of their sourced funds will be hit hard, and rightly so.
Given the ongoing eurocrisis, potentially more rate cuts by the RBA, and the move by overseas banks to compete in the OZ mortgage market, maybe we can not worry about fixing rates until maybe mid 2012??
The show also mentioned that Arab and US banks were keenly following the progress of the Japanese banks 2012 foray into OZ.
I presume the Japanese banks will hedge currency risk within their overall pricing strategy. Sourcing funds at close to nil % is a good starting point nevertheless.
How good is this?? Just think, the exorbitant 2+% uplift charged by the big 4 on top of their sourced funds will be hit hard, and rightly so.
Given the ongoing eurocrisis, potentially more rate cuts by the RBA, and the move by overseas banks to compete in the OZ mortgage market, maybe we can not worry about fixing rates until maybe mid 2012??
