The banks have already factored in the coming interest rate rises, so the best time if you wanted to fix was back in April. I can't see interest rates rising to much anyway and the current 5 yr fixed rates aren't attractive in my view. I will be sticking to my variable rate.
We couldn't fix back when the time was right (the rates went up while our documents were being generated on our last three, and you can't rate lock before there is a loan doc), so we're just riding out the low and bracing for the rise. We don't think we'd gain anything by fixing.
I have a 5 yr IO-FI loan coming due in SEPT 2010 and thats at 6.99%, the scenario 5 yrs ago didn't have a Global Economic Crisis thrown in.....and here they are talking about 40+ yr lows for bank loans
Glad I have some Banks in my stock portfolio, they are laughing all the way to the......well you know the answer
Fixed majority back in May, only property loan I have left now on variable I'll leave there. I have enough security of payments with the other loans, so will let this one ride on the lower variable rate. Even an increase to 7%+ of the SVR will still see this loan under what it was fixed at this time last year.