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The Pros and Cons of a Fixed-Rate Loan

When purchasing a property, refinancing or just renegotiating with your current lender, borrowers can generally decide between fixed-interest loans that maintain the same interest rate over a specific period of time, or variable-rate loans that charge interest according to market rate fluctuations. With interest rates at an all-time low, and many lender’s fixed rates significantly lower than their variable options, refinancing to a fixed rate is a very attractive option at the moment. While none of us know what the future holds, we can look at the facts and make an educated decision. Here are the ins and outs of fixed-rate loans.

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Breaking news – December interest rate announcement

The Reserve Bank of Australia has delivered its final cash rate announcement for the year with the decision to leave the rate unchanged at 0.75%.

In making the decision the RBA appears to be assessing the impact on the broader economy of the three previous cash rate reductions together with recent tax cuts, government spending on infrastructure and signs of improvement in the resources sector.

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Vicky McLoughlin No Comments

Breaking news – September interest rate announcement

The RBA has decided to leave the official cash rate unchanged at 1% as it continues to assess the impact of its June and July cuts. In making this decision not to drop rates again the RBA will have considered emerging evidence of an improving housing market, supported by strong auction clearance rates in Sydney and Melbourne.

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