andrew63

Currently I am paying 7.57% with the NAB (variable) and they are offering me 7.1% for 3-years fixed.
Course it is guess work but what is the feeling of rates?
I reckon going up and up a bit more so I may take the 7.1% but really it is a guess.
Any opinions?

Andrew

renth

Take it, I reckon a .25% rise some time in the 1st half of 07.

stevemich

Lets face it, rates probably aint gonna go down for quite a bit (likely go up a few more times imo), so it seems like a good idea to me..

You should consider if you intend moving during that fixed rate period. I presume that there would be penalty clauses if you cancel your mortgage with them, and maybe even some fee if you move but keep your loan with them.

Naved

How about switching to the providers through internet like HomePath, Onedirect, MyRate ...?

Banks like NAB charge 7.57% interest, but they also have monthly fee etc., and the effective rate is around 8%.

These HomePath, Onedirect, MyRate like people charge very less interest and no orgoing fee also...?

HOW GOOD they are...?

IS it worth trying them...?

Cheers !!!

Palace4Ever

Not going to happen. There will be no more rises now. Look at the trends of the Banks some are offering 6.95% that just shows you that you may even see a drop in rates in the new year.

geordie downunder

They call it an inverted yield curve,short term rates are higher than long term rates,it should be the other way round to compensate for inflation.
Sadly it is a prediction for a recession,however the bank analysts can get it wrong.CBA had 15 yr fixed at 7.99 around 18 months ago so their analysts are not predicting much movement in rates for a while,small movements at best.
The last time RBA played with rates for a few small rises it killed the economy,around 97 or 98.Try the best of both worlds,go for a 50/50 variable/fixed mix.
Wall street journal is predicting the next move for US rates is down,again an inverted yield curve.You will have to make your own mind up,nobody can predict the future,least of all an opinion poll.
For myself I have fixed loans maturing in late Jan,I am going variable until June when I get the chance to fix again,but I can't predict the future either.Gut feeling is 6 months will not clear the waters,so you will have to do your own risk management,good luck.