Hello, wanted to hear your thoughts on this matter.
I have about $250k, with a fixed rate of 4.19% coming to an end soon. Following that, I anticipate I may sell the property in 3 months.
Having discussed with the bank, I am able to obtain a 5.2% floating rate. This will equate to a $70 more in payments per fortnight.
I was mulling through things, and wondered - given that the wholesale rate is likely to edge higher, is it actually wise idea to still fix it again for 1 year, say 4.29%, and then at 3 months, break it?
Or will I most likely be in a worse situation, if I were to fix it now?
Thanks for your advice.
I have about $250k, with a fixed rate of 4.19% coming to an end soon. Following that, I anticipate I may sell the property in 3 months.
Having discussed with the bank, I am able to obtain a 5.2% floating rate. This will equate to a $70 more in payments per fortnight.
I was mulling through things, and wondered - given that the wholesale rate is likely to edge higher, is it actually wise idea to still fix it again for 1 year, say 4.29%, and then at 3 months, break it?
Or will I most likely be in a worse situation, if I were to fix it now?
Thanks for your advice.
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