We are at, or close to, the bottom of the interest rate cycle – so perhaps it is worth locking in part of these ultra-low rates before they go up.
While the Reserve Bank has indicated that it is in no rush to change rates, some business analysts have calculated that the money the banks borrow to lend to home owners and investors is becoming more expensive and that the increased rates will be passed on to borrowers.
One analyst has said that the banks could be forced to increased rates by 0.1 to 0.15 per cent. This is not a huge increase – but it still has an impact on the cash we have at our disposal.
Right now, interest rates are at all-time-lows; Chan & Naylor Finance is seeing some very sharp fixed rates – some as low as 3.94 per cent. It might be worth asking your Chan & Naylor Mortgage Broker [in Sydney, Brisbane, Melbourne or Perth] – to review your rates so you remain as sharp as possible.
Feel free to call us on 1300 306 868 or submit your enquiry online here.