Suncorp to raise fixed rates tomorrow ??

[BradW82]

Just wondering if anybody else has this info ? My Mortgage broker told me this today in attempt to get me to rate lock now as we have finance pending a valuation . Apparently they will raise 2 & 3 year fixed rates by .25% ...


Brad

 

[Mick C]

Email from 2 days ago ( Wednesday)
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" Suncorp Bank Update: 2 & 3 Year Fixed Interest Rate change

Suncorp Bank’s 2 Year and 3 Year Fixed Interest Rate will increase effective Friday 23 March 2012.


Mortgage Loans* Interest Rate Comparison Rate~
2 Year Fixed Rate 6.19% p.a. 7.33% p.a.
3 Year Fixed Rate 6.29% p.a. 7.25% p.a."

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To late to rate lock now, as they can only rate lock with an unconditional approval.


Regards
Michael

 

[Mick C]

From AMP---
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2 and 3 year fixed rate increase Satuday night 11.59pm

Hi All

- Home Loan - fixed interest rates increase
2 year fixed rate loans increase by 0.15% p.a - 6.14%
3 year fixed rate loans increase by 0.20% p.a - 6.19%

Deals submitted prior to this time can be rate locked at 0.15% of the loan amount. Any deals in the system that have not locked and now wish to do so will incur a 0.25% of the loan amount.
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[Rolf Latham]

Just wondering if anybody else has this info ? My Mortgage broker told me this today in attempt to get me to rate lock now as we have finance pending a valuation . Apparently they will raise 2 & 3 year fixed rates by .25% ...


Brad

Hi Brad

Regardless of your specific scenario, youd be taking a "sure kicking" by ignoring your broker's advice on any 2 to 3 year term at the moment, unless you can settle in 24 hrs AND/OR the loan amount is weeny

ta

rolf

 

[BradW82]

Thanks guys , we got unconditional approval and managed to lock in at 6.14 for 3 years .

Brad

 

[Peter_Tersteeg]

Quite a few lenders are increasing their fixed rates at the moment. If you're waiting for a settlement with fixed rates, it'll be worth talking to your broker/lender about a rate lock.