Commonwealth Bank and St George today announced an increase to their 3 year fixed rate to around 7.29% before any discounts. This increase comes 3 weeks after they followed other lenders in reducing their fixed rates down to levels that have not been seen for quite some time.
Deciding whether to fix in or stay on variable is always a difficult question. No one knows what is going to happen with interest rates. Main advantage of fixed is that you have certainty of repayment so if one or two rate rises is going to totally blow your budget then perhaps it is time to fix in.
Information on Temporary Resident Home Loans here and Australian Expat Home Loans here.
TeganWe are so grateful for everything Justin Thom did to help us with our home loan. From the very beginning, Justin was friendly, approachable, and genuinely cared about making the process as easy as possible for us.
He explained everything in simple terms, answered all our questions with patience, and always made us feel comfortable and supported. It can feel overwhelming, but Justin went above and beyond to guide us every step of the way.
Thanks to his hard work and dedication, we were able to secure the right loan for our family and move forward with confidence. We honestly couldn’t have done it without him and wouldn’t hesitate to recommend Justin to our friends and family.
Tristan BothaHelpful, responsive and great communication! Justin ensured we were in-the-loop and knew exactly where things were up to throughout the whole process!
Highly recommend MAP Home Loans and will be sure to use them again, when required!
LydiaJustin was recommended to us by family when we began our journey into purchasing our first home and applying for a mortgage in 2022. As first-time buyers, I felt a little overwhelmed, but Justin was always readily available to answer questions. I especially appreciated a call — outside normal working hours — to let us know the RBA was about to hike rates, giving us the chance to lock in our offer beforehand. Justin listened to our goals and found options that suited us. A couple of years later, we returned to him for refinancing to consolidate debt, and again we were grateful for his guidance. The process was seamless, and we secured an amazing rate.

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