- April 15, 2024
- Posted by: legaleseblogger
- Category: Related News
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### Current Mortgage Situation
First of my 3 mortgages are coming up for refix on 17 March with the current rate at 5.69%. The other 2 portions are at 6.69% for 2 years and 6.69% for 3 years.
### Mortgage Amount
The total mortgage amount is $175,000.
### Rates Offered for Refix
– 6 month: 7.45%
– 1 year: 7.45%
– 18 months: 7.25%
– 2 years: 6.95%
– 3 years: 6.79%
– 4 years: 6.69%
– 5 years: 6.59%
### Decision-making Process
Given the conflicting information on rates rising and falling, as well as inflation rising and falling, it can be challenging to determine the best rate and length to choose for the refix of the mortgages.
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AI Legalese Decoder can assist in analyzing the current market trends, predicting potential changes in interest rates and inflation rates, and providing data-driven recommendations on the most suitable rate and length for the mortgage refix. By utilizing advanced algorithms and machine learning, AI Legalese Decoder can help in making informed decisions that align with your financial goals and objectives.
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****** just grabbed a
I was offered 6.89% for 1 year. 6.79% 18 months and 6.75% for 2 years via BNZ just on Wed. Your rates seem pretty high
Fix for 1 year to 18 months
Broker here. Those rates up to the 3 year are terrible. What’s your LVR
Those rates are high based on what I’ve been offered. I’d talk to your broker. Also, you should be asking your bank for cash back in this instance. Generally 1% of the loan value at refix.
Mine were lower last week. 6.89 for 1 year 6.79 2 year & 6.49 for 5 years. I went with 12 months. My other portion has 6 months left before its due to refix. We shall see if rates go up again.