I am writing again – to let you know how I think the interest rate scenario will unfold in 2022 and how to prepare together. We each have roles.
The pieces are falling into place for the Reserve Bank to start to lift the cash rate.
To repeat from an earlier email, this is how I see the rate scenario playing out this year…
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As I suggested back in June, rate reductions are starting to flow through to new borrower deals.
This is good news for my own existing clients because I review;
You will start to see these reductions flowing through to your loan in your next review.
As you know, I seek written agreements with any bank that wants my new business. Namely that they agree to price my existing business in keeping with new offers whenever I make a request.
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This morning as I was sitting down to write on the (immediate and medium) future of interest rates, knowing that they are poised to head down again – two clients of long standing emailed me.
One wrote to me – tongue in cheek;
“I know (how much) you “adore” fixed interest rates, not, but now, locking part or all of a home loan in at these ever so low interest rates needs to be considered?
I still remember the painful 14% home loan interest rates.
Looking forward to your opinion in regard to this matter.”
Surely with rates now under 3%, surely with banks offering fixed rates in the mid 2%’s – SURELY it must now be time to fix … Surely!!
The best time to fix is still never.
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