It didn't take too long before one of the major banks made their move! Floating rates have risen slightly but the fixed rates are on the decrease.
Why does this matter to you?
Because when considering how much a person can borrow the banks normally use the 2 and 3 year fixed rates to calculate the servicing... so, a reduction in those rates increases the borrowing power of you - the buyer!
If you are looking at buying or refinancing give us a call or email us and we'll determine, fairly quickly, just how much you are able to borrow!
Thursday, August 5, 2010
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