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Fix or Float?

Now that you have a home loan, should you fix or float your interest rate? With the OCR (Official Cash Rate) currently at 0.25% what's the best option?

We eat and breathe bank lending policy and interest rates so we can provide you with the best advice and solutions for your home loan. We help with advice on your mortgage structure - so you don't get stressed over to fix or float.

The OCR at 0.25% is still the lowest it has ever been. The average since March 1999 is 5.62%, so it's fair to say that it is unusually low. The floating rate works for many home owners however, if you want the security of regular fixed repayments, a fixed interest rate may suit you better.

The best way to get gains on a low interest rate is to pay more than the bank minimums - this can save you thousands of dollars on the loan amount and take years off your mortgage term.

Since your financial circumstances are different to any one else, email us and we can advise you on the best options for you. We can negotiate with your bank on your behalf and assist with fixing your rate and structuring your home loan - that suits you - not the bank.

Go to FixaRate (click on logo) and request a fixed rate quote - so when interest rates do go up; you're ready to fix - we will discuss and advise your options with you first. If you fix your interest rate and break the loan or break the fixed rate before the due date, then you may be charged an early break fee from the bank.


So let’s get started call on 0800 ADVOCO (0800 238 626)


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