harvyk Member 1,070 Member For: 19y 9m 23d Location: The North Cooma End of Canberra... Posted 27/05/08 10:02 AM Share Posted 27/05/08 10:02 AM I'm no expert, but there is talk that the rates have hit their high point, at least for a while. A few years ago it was an easy call (as they where only going one way). But now you have the US interest rates down extremely low, which means ours could follow now the reserve bank has caused it's desired level of pain. I'd go variable for the time being, as you can always change to fixed at a later date. Link to comment Share on other sites More sharing options...
ZAP No boost, no bottle, just my foot on the throttle! Lifetime Members 7,935 Member For: 20y 10m 10d Gender: Male Location: Sydney Posted 27/05/08 10:11 AM Author Share Posted 27/05/08 10:11 AM For the finance experts:Why can we not borrow money from USA where the rates are around 4% for a bank loan ?I know businesses can borrow money OS, but what about us lowly home buyers. Link to comment Share on other sites More sharing options...
2fardown Member 526 Member For: 19y 7m 12d Gender: Male Location: Brisbane Posted 27/05/08 10:14 AM Share Posted 27/05/08 10:14 AM 10 years fixed???? Who's the lender?I don't know why you're stressing. You can always re-finance and come 2nd quarter of this year it means all break fees are waived.... Link to comment Share on other sites More sharing options...
chooch Member 256 Member For: 20y 10m 20d Location: Adelaide Posted 27/05/08 11:25 AM Share Posted 27/05/08 11:25 AM fix for 3 years. the markets change quickly.Make sure you budget so you can still afford the loan with an interest rate of 10-12%........just in case. Link to comment Share on other sites More sharing options...
TUFXRT6 Silver Donating Members 687 Member For: 18y 9m 4d Gender: Male Location: Victoria Posted 27/05/08 11:49 AM Share Posted 27/05/08 11:49 AM For the finance experts:Why can we not borrow money from USA where the rates are around 4% for a bank loan ?I know businesses can borrow money OS, but what about us lowly home buyers.Please dont think like that anymore as it will only keep you awake at night.The simple reason is CURRENCY!!!! If the AUD moves lower then the bank will still want the same payment in USD but you will have to pay more to make up the difference.If there was no currency problem I.e. could manage the currencies through swaps then you are better off going to China where the official interest rates are at almost zero.Its always good to think out side the square.RegardsTUFXRT6 Link to comment Share on other sites More sharing options...
SCRIBR Yaris member Member 4,486 Member For: 18y 6m 2d Gender: Male Posted 27/05/08 12:05 PM Share Posted 27/05/08 12:05 PM ooohh can we go to communism too? Link to comment Share on other sites More sharing options...
TUFXRT6 Silver Donating Members 687 Member For: 18y 9m 4d Gender: Male Location: Victoria Posted 27/05/08 12:15 PM Share Posted 27/05/08 12:15 PM Only because you asked nicely.Now get me a beer. Link to comment Share on other sites More sharing options...
ZAP No boost, no bottle, just my foot on the throttle! Lifetime Members 7,935 Member For: 20y 10m 10d Gender: Male Location: Sydney Posted 27/05/08 12:27 PM Author Share Posted 27/05/08 12:27 PM 10 years fixed???? Who's the lender?I don't know why you're stressing. You can always re-finance and come 2nd quarter of this year it means all break fees are waived....Both RAMS and Homesite offer 10 year fixed, both at the same rate.If I signed up for a 10 year fixed, and got out early, I am sure there would be some massive penalties.The government will only reduce some fo the charges, or people will play and abuse the system. Link to comment Share on other sites More sharing options...
BFHOON Donating Members 1,932 Member For: 18y 8m 29d Gender: Male Location: nsw Posted 28/05/08 05:35 AM Share Posted 28/05/08 05:35 AM the news iv heard from a good source is thet the next 2 first tuesdays of the month will come with a rate rise.that along with the banks now having there restrictions removed in my opinion will see >12%by this time next year. Link to comment Share on other sites More sharing options...
senna_T Forged Member Lifetime Members 15,818 Member For: 17y 10m 16d Gender: Male Location: SW Sydney Posted 28/05/08 05:46 AM Share Posted 28/05/08 05:46 AM great, there goes the car industry, and the housing industry, and the building industry.... Link to comment Share on other sites More sharing options...
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