I'm glad that I fixed my loan for 5yrs.

Discussion in 'Loans & Mortgage Brokers' started by Abooking, 19th Aug, 2015.

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  1. Azazel

    Azazel Well-Known Member

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    So what's the deal when you see banks advertising one rate, and the comparison rate is higher? And no mention of the lower rate being for a particular period.
     
    Azazel, 19th Aug, 2015
    #21
  2. tobe

    tobe Well-Known Member

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    Read the fine print. Comparison rates accounts for fees as well as interest rate.
     
    tobe, 20th Aug, 2015
    #22
  3. Azazel

    Azazel Well-Known Member

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    But that's why I'm here, so I don't have to.
     
    Azazel, 20th Aug, 2015
    #23
    inertia, miked and Jess Peletier like this.
  4. Subodh Shirodkar

    Subodh Shirodkar Well-Known Member

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    Hi

    You seem to have got a good deal & are happy about it so well done. Few other have reflected on other considerations, I am sure you took those into consideration. In a large portfolio locking something for 2-3 years should be fine IMO more from cash flow perspective.

    I was out for dinner the other day with other elite economists. Global financial trends. In general the global economy will just move along & interest rates will be steady.

    Most IP investors have had a good run recently so really can't complain. The interest rates will be supportive without allowing us to go berserk.
     
    Subodh Shirodkar, 20th Aug, 2015
    #24
  5. spludgey

    spludgey Well-Known Member

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    Yes, I find the comparison rate virtually useless for fixed rates.
     
    spludgey, 20th Aug, 2015
    #25
  6. miked

    miked Well-Known Member

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    Can you post a TLDR of that thread?
     
    miked, 20th Aug, 2015
    #26
  7. Abooking

    Abooking Well-Known Member

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    Did I make a mistake did I.... ha ha

    Im glad to have fixed my rate for sure. This oligopoly will only continue to rise their rates further next year. Australian financial banking system is a greed driven sector
     
    Abooking, 23rd Oct, 2015
    #27
  8. Waterboy

    Waterboy Well-Known Member

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    I'm still unconvinced of the benefits of fixed rates at this stage when the market is expecting RBA rate cuts -- which bring down swap rates for fixed rates.
     
    Waterboy, 23rd Oct, 2015
    #28
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