Best interest rates in the market in 2020

Discussion in 'Loans & Mortgage Brokers' started by Switchtronics, 8th Jan, 2020.

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  1. JohnPropChat

    JohnPropChat Well-Known Member

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    JohnPropChat, 3rd Mar, 2020
    #81
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  2. aving1001

    aving1001 Well-Known Member

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    Damn and I just moved to NAB
     
    aving1001, 3rd Mar, 2020
    #82
  3. Rex

    Rex Well-Known Member

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    Rex, 3rd Mar, 2020
    #83
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  4. aving1001

    aving1001 Well-Known Member

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    Good that I got out of fixed rate loan though have to payout 3k to break out of it
     
    aving1001, 3rd Mar, 2020
    #84
  5. Shadow of the Wind

    Shadow of the Wind Member

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    Why anyone would want to fix at these times of financial crisis is beyond comprehension.
     
    Shadow of the Wind, 3rd Mar, 2020
    #85
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  6. Beano

    Beano Well-Known Member

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    With these interest rates the profitability of our properties will have our debt reduced to Zero....then we will not care what happens to the interest rate :)
     
    Beano, 3rd Mar, 2020
    #86
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  7. Peerdon

    Peerdon Member

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    Generally speaking, even after this rate cut the fixed rates are still lower!
     
    Peerdon, 3rd Mar, 2020
    #87
  8. Beano

    Beano Well-Known Member

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    When it gets to zero I will fix it :)
     
    Beano, 3rd Mar, 2020
    #88
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  9. TangibleGoodwill

    TangibleGoodwill Well-Known Member

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    Would this be a logical thought process:

    lower rates = increase serviceability calcs = more lending = higher buyer demand = time to sell some properties?
     
    TangibleGoodwill, 3rd Mar, 2020
    #89
  10. Jess Peletier

    Jess Peletier Mortgage Broker & Finance Strategy, Aus Wide! Business Member

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    P&I INV is way too high but may depend on loan size. OO is okay - not mind blowing but okay.
     
    Jess Peletier, 3rd Mar, 2020
    #90
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  11. Beano

    Beano Well-Known Member

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    No the properties I am buying I never want to sell
     
    Beano, 4th Mar, 2020
    #91
  12. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    coz the bond market has already priced in this and possibly further rate cuts............

    ta
    rolf
     
    Rolf Latham, 4th Mar, 2020
    #92
  13. Ardi

    Ardi Well-Known Member

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    I am looking to fix for peace of mind and stability. Looking to increase cash flow in the short term fixed Investor IO rates are pretty good to help with this.
    I'm no guru but I cannot see the banks passing on that much of future rate cuts. Could be wrong, but that is my reasoning.
     
    Ardi, 4th Mar, 2020
    #93
  14. spludgey

    spludgey Well-Known Member

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    I'm not affiliated in any way, but here's an Ozbargain link.
    Westpac:
    2.58% (CPR 3.45%) owner fix 2yr P&I
    2.78% (CPR 3.65%) investor fix 2yr P&I
    2.88% (CPR 3.75%) investor interest only fix 2yr
     
    spludgey, 4th Mar, 2020
    #94
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  15. AndyPandy

    AndyPandy Well-Known Member

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    What kind of IO and P&I investment rates are people getting with ANZ?
     
    AndyPandy, 4th Mar, 2020
    #95
  16. Shadow of the Wind

    Shadow of the Wind Member

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    When the RBA introduces Quantitative Easing (i.e. electronic money printing), a bank's funding costs will turn negative as in many western countries, and you may as well get a 1% mortgage rate or even less!
     
    Shadow of the Wind, 4th Mar, 2020
    #96
    Ardi likes this.
  17. spludgey

    spludgey Well-Known Member

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    Holy moly!

    ING 2.49% owner, 2.74% investor, fixed 3yrs + 0.3% Bundle Rebate
     
    spludgey, 5th Mar, 2020
    #97
  18. TangibleGoodwill

    TangibleGoodwill Well-Known Member

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    Never fixing again.

    Thought 4.14% was unbeatable three years ago with Virgin Money.
     
    TangibleGoodwill, 7th Mar, 2020
    #98
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  19. spludgey

    spludgey Well-Known Member

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    I just fixed a whole bunch of loans all between 3.09% and 3.39%. While there are lower rates, I'm happy with it. Whether I'm paying $10k more or less in interest per year doesn't really make that much difference in the big scheme of things.
     
    spludgey, 7th Mar, 2020
    #99
    Beano and Ardi like this.
  20. Blueshoes99

    Blueshoes99 Well-Known Member

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    After rate cut

    One of the big fours
    Owner occupied Principle and interest PI - 2.99% full offset account
    Investment, Principle and interest PI - 3.39%

    I pay no monthly or annual fees for any accounts including credit cards and have full withdrawal facility.

    Any other providers cheaper?
     
    Blueshoes99, 7th Mar, 2020
    #100
    Ardi likes this.
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