part of the reason this time round is that ME has a "closer" source of funds I expect
ta
rolf
3 and 5 year fixed rate thread
- Thread starter lizzie
- Start date
part of the reason this time round is that ME has a "closer" source of funds I expect
ta
rolf
Adelaide Bank and the Rock Building Society.
you can add CUA to that list as well for fixed rate offset. why not split the loan and have the best of both worlds
they have not announced it! the email just said rates are changing on 20/03/13 and their is still time to take advantage of the current offer suggesting it would be going up.
you are correct, up 30 points!
Why wouldnt I be correct? odd....
WBC pricing on the 2 yr not a prelude to others doing same ?
they need to pay for their 100pt discount campaign for loans > 500,000, and and also the balance of their heavily discounted variable ranges
with regards to pricing just a couple of weeks ago it was near impossible to get pricing of 92 points unless you have a single loan split. We had pricing request comeback telling us that they were going to lose money with a 85% discount over two loans that is on a loan of 400. Now all of a sudden they can make pricing without any split or LVR restrictions
I'd wouldn't necessarily read anything in Westpac's move as a general position of the market although we will soon see.
Thanks
Rolf
they need to pay for their 100pt discount campaign for loans > 500,000, and and also the balance of their heavily discounted variable ranges
with regards to pricing just a couple of weeks ago it was near impossible to get pricing of 92 points unless you have a single loan split. We had pricing request comeback telling us that they were going to lose money with a 85% discount over two loans that is on a loan of 400. Now all of a sudden they can make pricing without any split or LVR restrictions
I'd wouldn't necessarily read anything in Westpac's move as a general position of the market although we will soon see.
Thanks
Rolf
Have to disagree there Rolf, I think a bell just sounded loud and clear, bottom of the rate cycle but I've been wrong on this stuff just about as much as I've been right. My thinking though is with those strong employment numbers during the week and general optimism I can see all fixed rates moving up pronto. I have been strongly recommending rate lock for the last month and a bit so am relieved on that front as a few with Westpac.
It's funny when the banks don't drop fixed rates inline with variable, reasoning is that funding comes from different place (bonds etc)
But now when it's increasing rates it can be claimed its due to lower variable rates.
Bit odd but it's banks... If you can't beat them, work for them
Hopefully other banks don't follow....
Could be time to lock in, question is now 2years or gamble and go 5years @ 5.8%
hey I lost my tea leaves when shining up the crystal ball for the last seance
My GUESS ! is that we will still see another 75 pts come off the cash rate .............if that gets reflected in fixed I have no idea.
Why ? The Jobs creation stuff is smoke and mirrors, and when the change of gov comes, I expect we will some interesting holes, where there arent any today, not dissimilar to various state economy issues on recent years.
ta
rolf
My GUESS ! is that we will still see another 75 pts come off the cash rate .............if that gets reflected in fixed I have no idea.
Why ? The Jobs creation stuff is smoke and mirrors, and when the change of gov comes, I expect we will some interesting holes, where there arent any today, not dissimilar to various state economy issues on recent years.
ta
rolf
Ah politics enters the discussion and yes this year I believe it will impact the property market, I am not a major follower of either party's but if we change governments we will spend the next 9 to 12 months in the wilderness unraveling the previous governments policy which will cost us dearly.
As for the crap stats coming out of this government on unemployment, they don't take into account the large amount of back packers in the country at the moment seeking jobs and seeking residency nor do they allow for FIFO workers who can be let go at the drop of a hat
As for the crap stats coming out of this government on unemployment, they don't take into account the large amount of back packers in the country at the moment seeking jobs and seeking residency nor do they allow for FIFO workers who can be let go at the drop of a hat
not politics per se , just reality as has been shown to date by state numbers.
On the FIFO, its not they can be let go, they are being let go, look at the mothballed qld coal projects and major red flag that funders are putting up to anything remotely to do with mining and energy infrastructure. I think the lenders are over reacting as they always do, BUT there is merit in the opinion.
ta
rolf
Just tried to split my loan to include 70% fixed for 2 years at ANZ for 4.99%....got told that the lady who does it isn't in today and has so many applications to do that she is unlikely to action my split until end of next week
Was encouraged to pay a few hundred dollars for a rate lock to ensure 4.99%, do brokers always get a heads up when an institution is going to increase rates...if so a heads up on ANZ would be good.
Was encouraged to pay a few hundred dollars for a rate lock to ensure 4.99%, do brokers always get a heads up when an institution is going to increase rates...if so a heads up on ANZ would be good.
Just tried to split my loan to include 70% fixed for 2 years at ANZ for 4.99%....got told that the lady who does it isn't in today and has so many applications to do that she is unlikely to action my split until end of next week
Was encouraged to pay a few hundred dollars for a rate lock to ensure 4.99%, do brokers always get a heads up when an institution is going to increase rates...if so a heads up on ANZ would be good.
ANZ announce interest rate changes on a friday arvo for the following monday usually, (in the case of fixed, when they reduce variable, it could be weeks later).
Take the rate lock forms, and be ready to lodge them on such a friday, if its worth it.....
