home loan jpgLocking in a fixed rate or switching your home loan altogether is top of mind for Australian borrowers as lenders slash fixed interest rates and continue to bring out special product offers.

The average three-year fixed term interest rate home loan (the most popular type) is the lowest it’s been low since October 2009 and new home loan deals are being released every other week.

Home loan lenders are reacting to changes to their funding costs, subdued home loan demand and uncertain economic conditions by repricing fixed rate home loans and continuing to bring out attractive home loan offers in the hope of boosting the flow of customers walking through their doors.

The key message to confused mortgage holders considering switching their home loan and/ or lenders is – the interest rate should not be the driving force in your decision. You should also consider exit fees for the current mortgage and compare all other aspects of the new home loan such as initial and recurring costs, ability to make extra repayments and redraw, flexibility, lender service and how long it will take to be approved.

If choosing a fixed rate home loan, investigate rate lock fees for securing today’s offers and be aware of possible break costs if you decide to switch again during the fixed period. Also consider how you will feel if you lock in and then watch interest rates fall down the track.


The love of working with people with an end result of being able to help them achieve their goals, ultimately led to a career in sales. Steve has now been in sales for 17 years to date, and in that time has established many happy clients who can all give testimony to his fine character and outstanding abilities. His enthusiasm and passion continues throughout all areas of his life with honesty and integrity being his highest priority. (See testimonials) Posts by Steve Moran Google Plus


Leave a Comment