Originally posted by speights boy
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Fixed over 80% on a 5 year rate (6.45%). Will be happy even if the rates plumett. I have security on those loans and can afford them easily. I can't pay down the remaining 18% which is on floating in that time so why worry too much.
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you don't have to either fix 5 years or floating.
how about averaging across terms so you don't have everything expiring at one point?
whilst it's true interest rates can go in any direction, it's always useful to look at 10-year averages and see where we are tracking.
I realise not everyone contributing to this thread is trained in economics and finance.
But it doesn't change the fact interest rates move in cycles, so it's reasonable to say over time rates will move up from where they are at now.
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Originally posted by Wayne View Postbecause if the rates drop heaps again then they will cry and try to break.
Those that fixed high previously thought they were doing the best thing then and what a lot of hand wringing followed.
That is quite a different kettle of fish from those who were fixing at 8 - 9% 5 years ago.
Plus, so what if rates drop.
As Keys pointed out, if your ability to pay is not affected all it means is that you are spending more than you needed to (in 20/20 hindsight)
Can't quite understand why anyone would waste a good prayer on that.
When I spend money on an insurance policy I am very happy when I get nothing back for it at the end of the term.Last edited by speights boy; 12-09-2013, 04:45 PM.
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Originally posted by Leftette View PostI turned down a really good rate when it was at the lowest ebb. I feel like a total looser.
Wish everyone the best of luck!
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