Before expected interest rate rises happen, it might be worth homebuyers thinking of changing to fixed rates moving fast.
Home loan seekers considering changing to fixed rates might want to speed the process up before expected interest rate rises occur.
This is according to John Kavanagh, writing for the Age, who noted that some of the bigger lenders have increased their levels in the last week, bucking the trend of lowering fixed rates.
But he noted that the market is in flux because, although ANZ and Commonwealth Bank are upping their rates, there are others which are decreasing them.
Earlier this month, HSBC cut some of the levels on its home loans, such as its Premier and PowerVantage offering, which it is making available to new customers for 5.69 per cent per annum for the first 12 months.
Moreover, Mr Kavanagh pointed out that the majority of bank economists are predicting a rate rise that totals one percentage point over the remainder of this year and throughout 2011.
By Emma North
