Fixing Your Interest Rate

Is it a good time you might ask?Interest Rate

From my perspective, there’s no real bad time. Fixing your interest rate gives you a guaranteed repayment for a set period of time. Rates may go up or down but you have consistency which depending on your personal situation, this may suit you perfectly.

I’ve always thought of fixed rate home loans as giving peace of mind. They have restrictions and don’t suit everybody but if it allows you to sleep better at night then you should seriously consider it. Who cares what your friends are doing, if it sounds right for you then maybe it is.

Could rates go lower, yes, could rates go higher, yes… but, if it gives you peace of mind, it’s probably the right thing to do.

Fixed rates are currently quite a bit lower than variable rates also which also makes them rather appealing. You are locking it for a period of time though so don’t lock in for 5 years if you want to sell in 2 years. Understand what you are getting into and make an informed decision. If you’ve done that then you should sleep well at night.

There is no cost or obligation to have a look at your options so it’s well worth some consideration.