All Topics / Finance / ANZ 3 Year Fixed Rate

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  • Profile photo of Mobile MortgageMobile Mortgage
    Member
    @mobile-mortgage
    Join Date: 2003
    Post Count: 913

    ANZ have dropped there 3 year fixed rate from 6.70% to 6.55%
    Effective as of Monday 25th October.

    Regards
    Steven
    Mortgage Broker

    [email protected]
    http://www.mobilemortgagemarket.com.au
    Ph:0402483216
    Ph:1800 820 500
    VICTORIA

    PLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.

    Profile photo of Mortgage HunterMortgage Hunter
    Participant
    @mortgage-hunter
    Join Date: 2003
    Post Count: 3,781

    NAB has similar too.

    Must be the new industry standard and reflects what they are fixing money at. Bodes well for likelihood of massive increases.

    Simon Macks
    Mortgage Broker
    http://www.mortgagehunter.com.au
    0425 228 985

    Todays Hot Rate
    3 year fixed – 6.57%

    Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213

    fixed rates have been dropping for a while, which means banks are not expecting a rate rise in the near future. I am locked into one loan at 7.10%!

    Terryw
    Discover Home Loans
    North Sydney
    [email protected]

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of Andrew_AAndrew_A
    Participant
    @andrew_a
    Join Date: 2003
    Post Count: 392

    Terry,

    Are the banks thinking that rates are likely to drop at all?

    From a post I read at Ssoft from PittSt it would appear as if banks fix their profit in on both fixed and variable rates and their fixed rates are no indication whatsoever of their view on future rate movement.

    WaySolid.

    “Write the wrongs that are done to you in sand, but write the good things that happen to you on marble.” Arab proverb

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213

    maybe.

    Terryw
    Discover Home Loans
    North Sydney
    [email protected]

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of Nat RNat R
    Member
    @nat-r
    Join Date: 2004
    Post Count: 224

    Definatley…as I keep saying there is no magic in how the banks set their fixed rates…they just go off they relevant swap rate…have a look in teh markets section of the Finacial Review under “swap rates”. The swap rate is where banks and corporates can lock in fixed borrow and lending rates for 1,2,3,4 out to 10 or more years forward.

    The mortgage divison of a bank then decides what margin over the swap rate they are going to charge …not what the swap rate is.

    BTW…I’m not making ths up …I do this every day!

Viewing 6 posts - 1 through 6 (of 6 total)

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