Fixed Rate Home Loan

Fixed Rate Home Loans should be considered for two key reasons. The main reason to take on a fixed rate is to lock in your repayments to a fixed amount to provide certainty to your finances looking forward. The other reason to take on a fixed rate is to take lock in a rate that you believe will provide you a financial benefit (i.e. you expect the fixed rate to be less than the average of future variable rates).

Fixed rate periods range from 1 year up to 10 years. Typically, the longer period you fix your interest rate for, the higher theĀ interest rate will be (not always the case, but generally speaking).