I just don't see the appeal of fixed rates for anyone unless you aren't working and never ever intend to sell. The cons seem to outweigh the pros in any situation, particularly for longer-based terms.
I disagree...
"unless you aren't working and never ever intend to sell."
If you not working; i def won't recommend fixing- what happens if your force to sell due to unemployment, family, bills etc?? keep it as variable and have the flex to off load if required.
There are plenty of reasons for someone to fix their rates; and it's not simply because the rate is "considered low" but more
Security and piece of mind- especially if you have a high loan amount ..say total of $1,000,0000 an 0.50% increase in 2 month can = $5,000 PA = $96 a week - a lot of family live on a tight budget- especially investors who "walk closely to the serviceability line"
+ allows for more accurate budgeting and planning; especially for younger families who are going through a lot of change etc..
Regards
Michael