They will match or they have dropped to 4.99%?
Westpac 4.99% Fixed Rate is Back
- Thread starter Shahin_Afarin
- Start date
They will match or they have dropped to 4.99%?
They have dropped it.
Regards
Shahin
Regards
Shahin
Thanks, that great news. Is this just for the 2 years? or are the 3 year rates down as well? Apologies for all the questions, the CBA website hasn't been amended yet.
2 years only. Westpac also dropped their 3 year today to 5.29% to match the other players.
Regards
Shahin
Regards
Shahin
Hrmm very odd who ever said that they wont match on Friday...
As there was an email confirming that they would match Westpac.
Moving on
4.99% good to see such competition between lendersHopefully it continues and results in the best pricing for customers.
I can't see that rate on their website. Is that the Professional Package rate?
Yes its under the MAV.
Regards
Shahin
Regards
Shahin
I was asking about the 3 yr Westpac rate being 5.29%...are you talking about the CBA matching the Westpac 2 yr rate?
Yep I was referring to CBA. 5.29% for Westpac 3 years is under the PAP.
Regards
Shahin
Regards
Shahin
couple of thoughts
Firstly: two years? is it worth the effort, its only for two years, doesnt give much certainty to anything.
Secondly, isnt it Keith on this forum, who suggested that one waits until the first raise by the RBA before immediately fixing. The logic being that once the RBA starts raising, it does it consistantly for a while, and when reducing, nobody really knows where the reductions will end. Sounded intelligent to me anyway.
For myself i am only interested in 5yr fixes, anything shorter and to me it just provides a false sense of security. Personally i will either be following Keiths opinion, or waiting for the 5yr fixed to be incredibly attactive.
Just my 2c worth.
I dont have alot of skill, or special insight into this area.
Firstly: two years? is it worth the effort, its only for two years, doesnt give much certainty to anything.
Secondly, isnt it Keith on this forum, who suggested that one waits until the first raise by the RBA before immediately fixing. The logic being that once the RBA starts raising, it does it consistantly for a while, and when reducing, nobody really knows where the reductions will end. Sounded intelligent to me anyway.
For myself i am only interested in 5yr fixes, anything shorter and to me it just provides a false sense of security. Personally i will either be following Keiths opinion, or waiting for the 5yr fixed to be incredibly attactive.
Just my 2c worth.
I dont have alot of skill, or special insight into this area.
I guess as with most things property investing, its not a one size fits all scenario. Previously I thought I would never fix, but at sub 5% even if it is only for two years I personally see a great deal more upside than down.
If memory serves me correctly 4.99% was also the bottom of the cycle during the GFC, which makes me think if it was the bottom then, what aspect of the overall economy now, is going to push it considerably lower? Is Australia really in that much of a mire? I don't think so.
Last but not least, how much room is there to cut retail rates and even if you are forced to break, with interest rates already so low the break cost risks could be considered mitigated to an extent.
interesting an valid comment.
However, thats where the reserve will have to get aggressive with its cuts to make sure there is margin there to be passed on.
Otherwise we have an impotent RBA, if its monetary policy cant be actioned .............not much point in trying to pull the lever.
ta
rolf
ANZ is now 4.99% for 2 years
Just noticed that ANZ's fixed rate is now 4.99% for 2 years if you are on their breakfree package. NAB is also 4.99% under their Choice Package
Just noticed that ANZ's fixed rate is now 4.99% for 2 years if you are on their breakfree package. NAB is also 4.99% under their Choice Package
Yes seems the crashing of the cost of funding and some good 'ol competition has the fixed rates dropping. The white label NAB product we offer from Choicelend (Plan and FAST have similar products) is offering 4.79%pa 2yr fixed (5.58%pa variable) if you fix 50% or less or 4.89%pa if you want to fix the total amount. Some lenders are still doing the 'we will beat the Big 4 by 0.01%pa'.
So it is good to see some movement. Maybe time to ring your lender and see what they will do or alternatively one of the brokers on the forum to look into options for you. Remember fixing rates does not suit everyone.
Jane
So it is good to see some movement. Maybe time to ring your lender and see what they will do or alternatively one of the brokers on the forum to look into options for you. Remember fixing rates does not suit everyone.
Jane
Tried a google search on IF advantage but no luck. Who are they?
