I came across this article on Australian Property Investor which i think was good information. Getting a home loan is just as big as buying your home. With so many options and factors to think about when choosing a loan, it does sometimes get over whelming. But in the current market we are in, and with interest rates the lowest they have been in 40 years....it seems that there really are some great opportunities with loans out there.
Below I've posted some quotes from the article:
"Demand for fixed rate loans has hit its highest level since July 2008, accounting for eight per cent of all loan approvals for Mortgage Choice in June 2009. But variable rate loans are still favoured, making up 86 per cent of all loan approvals."
"In order to determine whether fixed or variable is best, it's necessary to look at the individual borrower's situation."
"Although only eight per cent of all approvals for June were for fixed loans, it looks like we are over the downward trend seen during much of last year."
"Everything from lifestyle and life goals through to financial situation and investment strategy comes into play. However, if your situation sees you needing peace of mind over repayments then fixing part or all of your loan is worth considering."
If you would like to read the full article, please follow the link below to the Australian Property Investor website:
http://www.apimagazine.com.au/api-online/news/2009/07/are-fixed-or-variable-rates-better
Thinking of buying or selling in Nedlands? Call me anytime.
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