CBA reduced my loc rate
- Thread starter sparky23
- Start date
Nice one
I thought they may have been giving you a financial spanking for being a "Bad Girl", but it seems you have been rewarded.
Dave
aah, yes!
good times.
I'm with CBA too Sparky.
Are you thinking of fixing, and if so, anytime soon?
Or, have you got any fixed, currently?
I'm all variable IO and LOC currently. Might start thinking seriously at locking soon - probably only for 3 years I'd say.
Marc my gut feeling is that the time is now right or very close to right for fixing.
Despite everything I still have a contrary view to a lot of people that things are about to start getting better and if this happens there is no way the fixed rates will continue to fall and instead they will be sneaking back up.
So far as I know the loc accounts have to stay variable and with the home loan accounts it is a case of thinking long and hard about what is likely to be happening in the near future with each of the properties. Another thing to consider is which of the loans are likely to be portable so if for example I wanted to sell our PPOR and construct or buy a new one could I take my fixed loan with me or would I be in the trap of exit fees.
I think the most frustrating thing is that when the variable rates change the banks give plenty of notice but when the fixed rates change it happens very sneakily and is effective immediately and you can only find out by monitoring the rates yourself - or checking on here of course.
I would have liked better 5 year rates but I think it will be a case of settling for the 3 year ones and I also don't expect to be coming out after 3 years and finding the end of the world as we know it!
Despite everything I still have a contrary view to a lot of people that things are about to start getting better and if this happens there is no way the fixed rates will continue to fall and instead they will be sneaking back up.
So far as I know the loc accounts have to stay variable and with the home loan accounts it is a case of thinking long and hard about what is likely to be happening in the near future with each of the properties. Another thing to consider is which of the loans are likely to be portable so if for example I wanted to sell our PPOR and construct or buy a new one could I take my fixed loan with me or would I be in the trap of exit fees.
I think the most frustrating thing is that when the variable rates change the banks give plenty of notice but when the fixed rates change it happens very sneakily and is effective immediately and you can only find out by monitoring the rates yourself - or checking on here of course.
I would have liked better 5 year rates but I think it will be a case of settling for the 3 year ones and I also don't expect to be coming out after 3 years and finding the end of the world as we know it!
I've been a Bad Boy. Hope I get a financial spanking, too.
I'm going to be looking at fixing my refi loan and my new purchase loan before too long.
I'm going to be looking at fixing my refi loan and my new purchase loan before too long.
As soon as I saw the word 'spanking' appear in this thread, I knew you'd show up Rob!
Yeah, I'm quite reliable, like that. Or is it that I'm predictable.
