Home Loans & Mortgages

Mortgage Rates in Australia the lowest in 45 years. Mortgage Interest rates are now at their lowest point in 45 years with the news that the RBA has cut the official cash rate 100 points this afternoon to 3.25 per cent per annum. Westpac passes on the Full Rate Cut Out of the big banks, [...]

It has been reported that the Obama administration has proposed a hose -down of the US mortgage market that would limit the Government’s role in supporting home ownership through implied Government Guarantees and mortgage facilitation through Fannie Mae and Freddie Mac.

We need real competition for our four major banks who have been writing over 90% of all loans in recent times. We all need to demand the introduction of a real Government Sponsored Enterprise, like Freddie Mac or Fannie Mae in the US, that can create 30 year fixed rate mortgages.
And that brings up a question, and the question is this. Would you want a lower interest rate than you have now, that is fixed for the term of your mortgage?