Sydney mortgage ratesWant the best Sydney mortgage rates? Do your homework, shop around and compare. Lenders will offer varying rates and different loan types. 
Interest rates in Australia are now at the lowest level for half a century. So is now the best time to be buying property? Many housing experts and economists believe that now is a good time to buy property, but warn people not to get carried away and to only borrow within their means.
The Future of Rates
Since late 2008, the Reserve Bank of Australia (RBA) has moved to cut rates by a total of 4.25 per cent. Starting in September with a cut of 25 basis points, which most banks passed on to home owners. That was followed by more cuts – three cuts of 1 per cent, one cut of 0.75 per cent, and lastly, in April, a cut of 0.25 per cent. The cash rate now sits at 3 per cent. Home loan interest rates have fallen too, with most lenders passing on all the rate cuts, apart from the last one. After the RBA cut rates 25 basis points in April, only three banks moved to cut home loan rates, and only by 10 basis points. However, home loan rates have fallen from nearly 10% in September last year to around 5.5% currently.
Should I buy Now?
Yes, interest rates for home loans are low. Property prices are easing, and the FHOG has been increased. For first home buyers, now is a good time to buy property, and to enter a market that this time last year was just out of reach for many. For others who are looking to buy a second property or an investment property, there is still a good chance to snap up a bargain property and get a low interest mortgage. Head of consumer advocacy for Resi Home Loans, Lisa Montgomery, says there is a “paradigm shift in how borrowers are thinking.. mortgage rates are now down to around 5% but borrowers are also looking for service, low fees, flexibility and features. I think right now there are some good deals out there.”
Should I fix my rate now?
So there are a variety of home loans available. Some come with a variable rate, some are fixed rates, others come with low rates or high rates depending upon the level of features available.
Leading mortgage brokers are convinced now is the time to fix your home loan, or at least part of it. Just this week, three major Australian banks raised the interest rates for their fixed rate home loans, so now really is the time to be looking at fixing if you want a fixed rate home loan.
Home owners and potential home buyers need expert advice during this tough economic time. Call us today on  and talk to a local mortgage broker.
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Sydney Home Loans
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No longer just a basic home loan. Full features like redraw, all at low interest rates. |
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Make life easier with a single monthly repayment. |
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New low interest rates are now on the market. Time to refinance and save.
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Don't be penalised just because you run a successful small business. Be treated as an equal here.
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Access the equity in your home to buy investments, fund home improvements or take that once-in-a-lifetime holiday.
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Introductory or honeymoon home loans can have some of the lowest interest rates around.
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