Interest Rated has increased. I overheard last night. I talked to my mortgage broker, he said it is affective from this Friday. [
][]I think that will definitely affect the price on market. less people can afford the next property, more people with property will have to tight themselves up.
I’m selling my unit to avoid become the victim as i got so much debt on that one.[
]Hi Cindyli,
I’m a little lost as to where you got this information from.
Has just your bank put up your interest rate or has the Reserve Bank put up base rates?
And by how much?That unit must be very negative for you to want to sell so quickly. [
]Cheers,
Sue []“Be careful not to step on the flowers when you’re reaching for the stars”
An interest rate rise has not been announced.
I guess your broker is referring to the fact that some banks are raising their fixed rates soon.
I have had this advice from several of my lenders.
If you are buying and fixing then now is the time to lock rates. This will cost but should be worth it if you know rates are rising.
Alternatively find a lender with a good cheap rate that locks from application for free.
Cheers,
Simon Macks
Mortgage Broker
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Hi Cindyli[
]
Dont panic or do anything rashly.There is a lot of expertise available to you on this panel,however we all need more detail in order to give you advice.
If the detail becomes too specific for you to post then it can be handled off line.
You will only become a victim if you sell when there is no need to.Regards
Bryce Inglis
[email protected]
http://www.ipal.com.auYou are right, it is the adjustment for the fix rate. Hopefully the bank will hold on the variables. I am quite sensitive with this now.
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