It seems to be the optimum time to fix rates is after the RBA has raised its rate but before the Banks have. RBA - wed, Westpac -monday.
I am with the big banks. Someone told me that smaller lenders sometimes only fix on a Friday or adjust fixed rates everyday to match the cost of their money.
It would be best to fix loans secured by the properties that have maximum borrowings and you are least likely to sell in a firesale. Also there is little loss of flexibility if there is a facility (as at the Westpac) where a Equity Access Loan can be added to a fixed loan when refinancing to increase borrowings in the future.
This strategy seemed to work for last week. Any comments?
Stirling
I am with the big banks. Someone told me that smaller lenders sometimes only fix on a Friday or adjust fixed rates everyday to match the cost of their money.
It would be best to fix loans secured by the properties that have maximum borrowings and you are least likely to sell in a firesale. Also there is little loss of flexibility if there is a facility (as at the Westpac) where a Equity Access Loan can be added to a fixed loan when refinancing to increase borrowings in the future.
This strategy seemed to work for last week. Any comments?
Stirling