Best interest rates in the market in 2020

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

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  1. Sheldrick

    Sheldrick Well-Known Member

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    3.15% - what is that for? Eg IO or P&I?
     
    Sheldrick, 27th Mar, 2020
    #161
  2. Joely

    Joely Member

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    Adelaide
    We’re with CBA and our rate just changed to 3.05%.
    Our investment loans are fixed at 4.1 (doh) but end in two weeks.

    Have been offered the fixed 2.29% P&I for our PPOR and 2.64% fixed for our investment property loans.
     
    Joely, 27th Mar, 2020
    #162
  3. TylerJamesson

    TylerJamesson Well-Known Member

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    This week I just switched my x4 townhouses residential investment loans with CBA from variable (interest only) which was at 3.89% in early January ...in early March was offered 3.39% interest only fixed for 2 yrs after.

    Tuesday was offered 2.89% fixed, interest only for 2 yrs which I’ve taken. I think the floor is pretty much in.
     
    Last edited: 27th Mar, 2020
    TylerJamesson, 27th Mar, 2020
    #163
    Leslie likes this.
  4. Never giveup

    Never giveup Well-Known Member

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    Spoke to CBA and according to them CBA isn't charging this breakfree fee and it is charged due to the agreement in the main market-my understanding is if some overseas pension fund is funding my loan they are charging etc....so I don't see point of paying nearly $7500 for loans coming off in nov2020
     
    Never giveup, 28th Mar, 2020
    #164
    TylerJamesson likes this.
  5. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    it is :)

    But English isnt my first language

    google

    portability

    Security Substitution. ​

    ta

    rolf
     
    Rolf Latham, 28th Mar, 2020
    #165
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  6. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Have u done the cost benefit analysis and where do u feel rates will be in 30 90 and 180 days ?

    U may find its not far off being worthwhile esp if its an IP loan

    ta
    rolf
     
    Rolf Latham, 28th Mar, 2020
    #166
  7. Never giveup

    Never giveup Well-Known Member

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    No one knows......
     
    Never giveup, 28th Mar, 2020
    #167
  8. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    thats right

    this is why the question was loaded with how YOU feel, because its your money and so no one else needs to know, and its not an answer u need to provide here either.

    What does your intuition tell you ?

    Many times in life we have to make calls on imperfect data, but at least we can model the outcomes on some assumptions - as you have stated before - due diligence.

    Stop and Drop until it blows over isnt DD.

    ta
    rolf


    ta
    rolf
     
    Rolf Latham, 28th Mar, 2020
    #168
  9. Never giveup

    Never giveup Well-Known Member

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    Agreed, I am.all.about scenario modelling and my DD is still ongoing ;)
     
    Never giveup, 28th Mar, 2020
    #169
  10. mrdobalina

    mrdobalina Well-Known Member

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    there's more to life than working
    Hold up. What? CBA are not charging break fees on loans currently fixed?!!!
     
    mrdobalina, 28th Mar, 2020
    #170
  11. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    mis communication

    CBA pass on the economic break cost from their funds provider


    ta
    rolf
     
    Rolf Latham, 28th Mar, 2020
    #171
  12. Switchtronics

    Switchtronics Well-Known Member

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    Sunshine Coast
    Yeah got mine on 18th
     
    Switchtronics, 30th Mar, 2020
    #172
  13. Ideacrash

    Ideacrash Well-Known Member

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    Sydney
    ANZ reduced my interest rate to 3.03 OO P&I variable. I see they have 2 year fixed at 2.19. Planning to shift to fixed.
     
    Ideacrash, 1st Apr, 2020
    #173
  14. Bux436

    Bux436 Member

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    Update. After some emails (difficult to get them on the phone currently) they have offered up 3.04% variable OO P&I.
     
    Bux436, 1st Apr, 2020
    #174
  15. jenno1612

    jenno1612 Active Member

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    Location:
    brisbane
    Currently on 3.42% variable - ANZ is offering me 2.49% fixed for 2 or 3 years for my investment loan

    I'm over a barrel with the house in neg equity (Perth urgh) so cant refinance. Surely its not going much lower than that ? its very tempting
     
    jenno1612, 2nd Apr, 2020
    #175
  16. CK_Invest

    CK_Invest Well-Known Member

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    Sydney
    Not sure if this thread is mainly for resi, but anyone with commercial property can share their rates?

    FYI CBA offering 4.25% for 15 years for me P+I,, 70% LVR not sure if anyone has anything better?
     
    CK_Invest, 2nd Apr, 2020
    #176
  17. JohnPropChat

    JohnPropChat Well-Known Member

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    ING offering 2.09% for 2yr fixed loans.

    I suspect rates from some online lenders will drop below 2% in the not too distant future.
     
    JohnPropChat, 5th Apr, 2020
    #177
  18. Perky29

    Perky29 Well-Known Member

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    What about fixed for 5 years?
    NAB seems to be the best of the big 4, with 3.09% at the moment..
     
    Perky29, 5th Apr, 2020
    #178
  19. JohnPropChat

    JohnPropChat Well-Known Member

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    5 year products are not very competitive in Australia. Why 5 years and not 2 or 3 years?
     
    JohnPropChat, 5th Apr, 2020
    #179
  20. Perky29

    Perky29 Well-Known Member

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    Sydney
    I prefer 5 year fixed. Besides, when we come out of the 3 year rate, who knows where the rate will be. I am thinking that int rates may start to move up in 2 years or so...
     
    Perky29, 5th Apr, 2020
    #180
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