What's the deal with fixed rates?

[THEHEATH]

Hi guys, haven't really been through one of these rate cutting cycles before so thought I'd rack your more, "experienced" brains I recently went on to my providers website to check out their fixed rates (wizard)... low and behold "fixed rates are not currently available". Started to take a quick look around and there doesn't seem to be many on offer, anz had a 10 year one at 7%, a search on yourmortgage just brought up a whole heap of introductory 1/2 year rates. Here I was salivating at the thought of being able to buy cashflow neutral/positive properties and lock in a low rate for 5 years, but I just can't seem to see them.

Am I not looking in the right places? Is this the result of the "credit crunch", or traditionally, do lenders just hold off offering fixed rates in times of lower interest rates

 

[Rolf Latham]

Hiya

Almost all lenders offer a fixed rate product.

I think though that you need to chase through a broker or the lenders durectly since many of the comparative sites dont have up to date data feeds

ta
rolf

 

[THEHEATH]

Sweet, the dream lives on then

 

[Ms Jade]

May depend on the lender at the moment. I spoke with Macquarie just prior to Xmas & was told that they didn't have fixed rates to offer at the moment. I guess if they are really out of ther mortgage writing business except for "servicing" existing customers they probably have bigger things to worry about right now. I have a big mortage coming off fixed rate in Feb, and will be re-fixing between now & June. Hopefully Mac will pull their finger out so I don't have to go & re-fi the loans i have with them.

 

[letiha]

This might help

http://www.interest.com.au/Borrowing/Mortgages/index.htm

 

[lizzie]

if you look at the bank's direct websites, they are all there.