Two more lenders have announced changes to their Fixed Rates.

Homeloans Limited have announced drops of up to 0.21% for their 2 year Fixed Rate and up to 0.30% for their 3 year Fixed Rate although the actual changes do depend on the product. ING have dropped their Fixed Rates for 2, 3 and 5 year periods by 0.15%, 0.30% and 0.10% respectively.

The timing of these Fixed Rate decreases is interesting to say the least.

They have come hot on the heels of the latest Reserve Bank decision to leave Official Cash Rates on hold but at the same time as there is talk that the next movement by the Reserve Bank could be up and also that banks are finding funding costs are rising.

All very confusing! Whilst the signs are there that interest rates could be moving, the latest move with Fixed Rates is a decrease.

This should not be taken as a suggestion that you should fix your rates because this is an individual decision that is very much dependent on each persons situation and has been covered in more detail in an article on this website but if you are concerned about the impact of future interest rate increases, then this is probably a good time to stop and at least have a talk to us about the rate for your loan and the costs involved in fixing.

• Fixed Rates creeping slightly
• ING lifts Fixed Rates
• The tide has turned
• Competition does exist in the home loan market
• Fixed Rates – is the honeymoon over?
• CBA Fixed Rate drops
• Fixed Rate Changes
• Fixed Rates Dropping!
• PLAN Lending Reduces Fixed Rates!
• ANZ Fixed Rates on the way up

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