3 and 5 year fixed rate thread

[rowena]

lol i had a dream last night interest rates are going to drop another 1.55%!
Hrm... maybe its just wishful thinking....

ANZ also dropped their variable 0.2% effective the 19th oct, so will be interesting to see if their fixed rates come down aswell...

I still think we have another month or so of the banks dropping and playing off against each other before it settles out.

 

[Brady]

lol i had a dream last night interest rates are going to drop another 1.55%!
Hrm... maybe its just wishful thinking....

ANZ also dropped their variable 0.2% effective the 19th oct, so will be interesting to see if their fixed rates come down aswell...

I still think we have another month or so of the banks dropping and playing off against each other before it settles out.

Same thing happened last year, banks were super competative around summer with variable rates offering upto 1.1% off SVR, some banks were loosing money just for market share.

Looks like its Fixed Rates this year

Good for customers either way!

 

[matto_]

In July 1968, the average standard variable interest rate was 5.38%.

http://www.propertyobserver.com.au/...509-October_12_20124_10_2012&utm_medium=email

Surely anything below 5.38% has got to be a sure thing.

How low did the variables get when the sub 5% fixed rates were around?

 

[tobe]

from memory, there was one sub 5% fixed rate for about 3 months. 4.99% fixed for 3 years on the pro pack.

the variable rate at the time discounted to 4.75ish....

 

[westminster]

Heritage have announced their fixed rate reduction (yeah!!!)

Investment rates IO
Was. Now
1. 5.75. 5.60
3. 5.85. 5.60
5. 6.29. 5.95

 

[Spectre]

Heritage still out of the better end of fixeds...

 

[westminster]

Heritage still out of the better end of fixeds...

Certainly are but they are willing to do my 4 villas on resi rates so I'm just stoked with the new rates.

 

[jonmardell]

Citibank has reduced their 3 year fixed rate to 5.35% (comparison rate 6.72%) and their 5 year fixed rate to 5.59% (comparison rate 6.56%) along with their spring campaign offer of $1,000 for refinances!!

 

[HotRod]

Citibank has reduced their 3 year fixed rate to 5.35% (comparison rate 6.72%) and their 5 year fixed rate to 5.59% (comparison rate 6.56%) along with their spring campaign offer of $1,000 for refinances!!

Someone explain the large difference between the actual and comparison rate?

Why so large?

 

[jonmardell]

Someone explain the large difference between the actual and comparison rate?

Why so large?

comparison rate is based on 150k over 25 years so it includes the fixed rate and also the variable rate it reverts to after the fixed rate period. After the fixed expires it is prudent to assess your circumstances again.

 

[jonmardell]

i should also add it includes the upfront and ongoing fees to calculate the comparison rate

 

[newbuilder2012]

What is the lowest fixed rate 1 & 3 years right now?

 

[newbuilder2012]

4.8 fixed for 5yrs would be a good deal

 

[jonmardell]

What is the lowest fixed rate 1 & 3 years right now?

5.35% for 3 years and 5.34% for 1 year on the lenders i have accreditation with.

 

[Rolf Latham]

4.8 fixed for 5yrs would be a good deal

not if variable goes to 4 % and stays there

all relative

ta
rolf

 

[Qlds007]

Advantedge Financial Services have just cut their 1 & 2 Year fixe rate to 4.99% where you take 50 % fixed and 50% variable under their Pro package.

All other rates also fall from the 17th October.

Getting very interesting.

 

[Brady]

not if variable goes to 4 % and stays there

all relative

ta
rolf

4.8% is still a good deal...

just 4% is better.

If I could lock in all investments @ 5% without the costs of break fees for sale/refinance I would do it in a heart beat

 

[Rolf Latham]

Advantedge Financial Services have just cut their 1 & 2 Year fixe rate to 4.99% where you take 50 % fixed and 50% variable under their Pro package.

All other rates also fall from the 17th October.

Getting very interesting.

and 5.09 for the 3 I hear ?

ta

rolf

 

[Mick C]

Last year 1-1.2% discount on Variable rate was the "Talk of the day"....looks like the battle has shifted into the 2 years fix rate territory

4.99% even for a 50% fixed is pretty good - esp for investors looking for a good return!

+ advantage has some unique credit policy i quite like.

 

[MarkandTina]

Not sure if this will display very well, will delete if it doesnt.

In summary 3 year fixed rate is just .2% above GFC low.

Interest Rates - Bendigo
Date variable 1 2 3 4 5

04/11/2008 7.90 7.09 7.09 7.29 7.39 7.39
01/12/2008 7.30 6.69 6.59 7.09 7.39 7.39
12/01/2009 6.30 5.99 5.89 6.49 6.99 6.99
29/01/2009 6.30 5.99 5.89 6.14 6.49 6.49
16/02/2009 5.50 5.99 5.89 6.14 6.49 6.49

27/03/2009 5.50 5.49 5.39 5.59 6.39 6.39

30/04/2009 5.50 5.49 5.54 5.99 6.59 6.64
18/09/2009 5.50 5.59 6.34 6.99 7.64 7.64
08/07/2011 7.10 7.29 7.44 7.79 7.89 7.69
08/08/2011 7.10 7.04 7.14 7.19 7.59 7.69
22/08/2011 7.10 6.69 6.49 6.49 6.89 6.99
28/11/2011 6.85 6.59 6.39 6.39 6.89 6.99
16/12/2011 6.60 6.29 6.24 6.34 6.79 6.89
21/02/2012 6.75 6.29 6.24 6.34 6.79 6.89
30/03/2012 6.75 6.39 6.39 6.49 6.79 6.89
07/05/2012 6.75 6.39 6.39 6.49 6.79 6.89
11/05/2012 6.75 6.24 6.19 6.34 6.69 6.79
25/05/2012 6.40 6.14 6.04 5.99 6.69 6.69
25/06/2012 6.20 6.14 6.04 5.99 6.69 6.69
25/07/2012 6.20 6.09 6.04 5.94 6.44 6.49
26/09/2012 6.20 5.94 5.89 5.79 6.19 6.09
17/10/2012 6.01 5.94 5.89 5.79 6.19 6.09