St george Fixed dropped to 2.89 should we?

Discussion in 'Loans & Mortgage Brokers' started by andy ngo, 14th Oct, 2019.

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  1. andy ngo

    andy ngo Well-Known Member

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    St george Fixed dropped to 2.89 should we?
     
    andy ngo, 14th Oct, 2019
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  2. Morgs

    Morgs Well-Known Member Business Member

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    Do you think rates are going to get lower than that?
     
    Morgs, 14th Oct, 2019
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  3. andy ngo

    andy ngo Well-Known Member

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    think no one can answer that question!!!
     
    andy ngo, 14th Oct, 2019
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  4. Morgs

    Morgs Well-Known Member Business Member

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    Yet here we are :D
     
    Morgs, 14th Oct, 2019
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  5. Niche

    Niche Well-Known Member

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    What @Morgs is saying is that choosing to fix your loan or not is basically you trying to decide if you think variable loans will go lower than that and you will miss out or not.

    The other way of thinking about it is running the following hypothetical, would you be more annoyed if a) you fixed your loan then rates dropped again or b) you stuck with variable and then interest rates increased. If you can answer that hypothetical you should have your answer. :)
     
    Niche, 14th Oct, 2019
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  6. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    The other argument is if you fix at that rate you would be saving $x every month now, and it might require 2 or 3 more RBA cuts (with banks passing on less than half) before you are worse off.

    note that I am not recommending you fix (or not fix)
     
    Terry_w, 14th Oct, 2019
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