Fixing interest rates



From: Miakat .

I'm on a role this afternoon, so i thought I'd keep the questions flowing.

My variable interest rate on investment loan is currently 6.22%. Anyone got any thoughts on whether now is the time to fix it? 6.56% for five years from memory. It will cost $250 to convert the loan.


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Reply: 1
From: GoAnna !

Hi Miakat

You could get a cheaper fixed rate than that. Are you on an investors package that gives you 0.15% or more off fixed rate? Other bank's standard rates are better than the rate you quoted as well. Give your bank a hard time!

It does look like a good time to fix but get the best rate you can : ) I guess it also depends on your long term plans for the property but at the moment fixed rates are a pretty cheap insurance policy.

Rule number one - protect your capital.

GoAnna !
(aka Anna before she got real)
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Reply: 1.1
From: Gee Cee Cee

My opinion exactly -Anna

Gee Cee

P.S. Nothing like 5 yrs of good sleep!
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Reply: 1.1.1
From: Crystal .

Hi Miakat,
Why not wait a little longer. Alan Greenspan has just reduced interest rates in America by 0.5% and Australia is sure to follow.
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