Business Services Industry
Warning against locking in rates.
Australasian Business Intelligence, June, 2003
Jun 19, 2003 (The Australian Financial Review - ABIX via COMTEX)
Australian home buyers have been urged to resist the temptation of rushing into fixed-rate home loans. Westpac, National Australia Bank and the ANZ Bank have all cut interest rates on fixed-home loans, however analysts expect the historically low rates to fall even further. While the 6.1 per cent rate is seemingly low, Infochoice CEO Lisa Montgomery warns that locking in a home loan is not necessarily the best option. Montgomery believes that split-rate home loans provide valuable protection to home buyers with large mortgages.
Publication Date: 20 June 2003
WESTPAC BANKING CORPORATION - ASX
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NATIONAL AUSTRALIA BANK LIMITED -
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