With a general expectation interest rates (as set by the Reserve Bank) will rise, many borrowers may be considering the option of fixing all, or part, of their home loan. However, there are various aspects to consider prior to making that decision. Importantly be aware fixed rates have already increased and are now significantly higher than variable. The best time to fix was in 2021, with fixed rates then available below 2%. Those days are gone. Is it worth paying more now to fix when there is great uncertainty as to when the variable rates may rise?
Read this article and more in our April newsletter here