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ANZ 3.75% O/O 2 years fixed

Discussion in 'Property Finance' started by JameZ, 3rd May, 2016.

  1. JameZ

    JameZ Active Member

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    Just got wind that ANZ will be reducing their 2 years fixed owner occupied fixed to 3.75%.

    While CBA decided to leave their fixed rates unchanged, they have just extended their "beat any Big 4 fixed rate by 0.01%" guarantee till end of June.

    If everyone thought fixed rates were really attractive before, it just got 25 bpts better.
     
  2. euro73

    euro73 Well-Known Member Business Member

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    Thats sharp, but I think it would be prudent to wait the week out and see what unfolds in the next 3-4 days
     
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  3. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    In a slowing economy, fixed will usually almost always improve as large super based investors look for cash based surety.

    ta
    ro
     
  4. euro73

    euro73 Well-Known Member Business Member

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    It will get really appealing if and when 4 and 5 years get down to 3.75% ... va va voom . Lock it in Eddie...
     
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  5. dabbler

    dabbler Well-Known Member

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    What if we end up doing a Japan though ?
     
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  6. bhojapudur

    bhojapudur Member

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  7. dabbler

    dabbler Well-Known Member

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  8. albanga

    albanga Well-Known Member

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    I actually can't believe anyone fixed at 3.99, surely this was inevitable.
    And.....definitely still wouldn't be fixing.
     
  9. Barny

    Barny Well-Known Member

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    Yep I fixed at 3.99
    How do I feel? Bout 5500 loss, what ever

    Edit, didn't realise that's owner occ. mine are investments.
     
    Last edited: 4th May, 2016
  10. York

    York Finance Broker Business Member

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    Fixing has it's place. It's not always about the cheapest rate possible. Sometimes peace of mind is important to some. Locking in a rate now may not be the cheapest option once rates move down, but if you have calculated your holding costs and yield and the fixed rate works well with that, then that's great. At least you know there won't be increases for that fixed term. Across a portfolio this can provide a good SAN factor.
     
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  11. Plucka

    Plucka Well-Known Member

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    Any word on Westpac dropping fixed rates?
     
  12. spludgey

    spludgey Well-Known Member

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    I fixed at 4.19% last month. Why? Because I would have been paying 4.54%+ variable instead. I'm not sure whether St George will be dropping their fixed rates either.
    At $1.3M (that's the part that I fixed), that's a $6500 difference over two years. Nothing to sneeze at, but I don't regret the decision as it gave me peace of mind for the next two years.
    You can't always do everything perfectly, so just settle for doing things well the majority of the time.
     
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  13. Abzolutely

    Abzolutely Member

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    is 3.75% going to be advertised?
     
  14. JameZ

    JameZ Active Member

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    It already has been circulated amongst some ANZ employees, I do hope it will be offered to the broker channel in the coming days/weeks as well.
     
  15. SouthBoy

    SouthBoy Well-Known Member

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    I currently have variable rates with NAB, CBA & Westpac floating between 4.10% and 4.50%. I know I can get fixed rates lower than this. But I feel when I fix the rates and lock it with an institution for say 2-3 years, I lose the bargaining power to negotiate a cheaper rate, when rates move like it did yesterday. I often call these banks and tell them I am moving to another bank if you do not lower my variable rate, and they often oblige and have given me an additional discount.....
     
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  16. tobe

    tobe Well-Known Member

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    2 year fixed rate announced. release reads like the .19% decrease only applies to OO. interesting.
     
  17. Abzolutely

    Abzolutely Member

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    i found the media release anz.co/4nm9Ty
     
    Last edited: 4th May, 2016
  18. Marty McDonald

    Marty McDonald Mortgage broker

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    OMG your right Tobe. Reads like doesn't include investment loans the cheeky bastards
     
  19. larrylarry

    larrylarry Well-Known Member

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  20. apk

    apk Well-Known Member

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    Any other lender reduced fixed rates ?