Borrowers have little to lose if they lock in their mortgage with fixed rates so low. If you expect two rate hikes of 0.25% each over the next four to five years, then locking in a long-term loan is a good idea.
If you're about to get an investment property loan, be prepared to either pay a little more in interest or have a fatter deposit if you are dealing with an ADI.
Despite the RBA cutting the cash rate to a record low of 2% in May, credit card interest rates have hardly moved so why not switch to a low-fee credit card.
Rates have been too high for too long and the RBA move has awoken us to the possibility that our cash and bond rates should be zero to 1% too - and are on their way there.
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