Mercia | Taxation, Business & Finance Advisers

Need Help with the changing interest rate market?

We can’t tell you what will happen with rates, but a mortgage broker can help you minimise the effect of any future increases.

With the statement

‘Markets are pricing a 25bp rate hike in the next few months.’
Source Westpac weekly reports.

Some banks  are telling us they may increase variable rates without a reserve bank increase, the consensus is rates are going to continue going up.

While the banks are factoring this into their fixed rates there seems to be some bargains available.

One example is Commonwealth Bank 2 year fixed 7.14% ( this includes package discount). Some borrowers are currently paying a standard variable of rate of 7.81% With CBA. Looking at all independent indicators, including the reserve bank pointing to rises of 0.25% over the next few months. It seems an anomaly be able to fix at 7.14% for 2 years with the same bank? Potential saving of $2 800 per year on a $500 000 mortgage (using 7.81% VS 7.14%) There is no catch – speak to Dan Goodridge at Mercia finance if you want to have an obligation free chat about your personal borrowing circumstances. Even if you are on a discount package with your bank, there may be opportunities for you make considerable interest savings.

Fixed rates are on the move – so this window of opportunity may  not last.

If you would like to speak to a broker, call Dan Goodridge on 0414 423 340 or e-mail dg@iinet.net.au for an obligation free consultation.

Dan Goodridge
Ebtide Finance
Mob 0414423340
Work 9367 3316
Fax 9338 8699