To lock in or not to lock in?

Is now a good time to lock in?

This is a question being asked by many, with the recent rate changes, and another potentially on the horizon. Many lenders are offering very competitive fixed rates in order to entice clients into fixing their loans. Making the decision to shift from a variable loan to a fixed one can be complicated as there are many things that should be considered rather than just the rate. Some things to think about are the term that is being offered along with the coinciding rate; as well as the associated benefits such as off-set accounts and the ability to make extra payments or redraw additional funds. You may find that you end up sacrificing flexibility in order to try and lock in that fixed rate! Your best option may be to lock in a portion of your loan, rather than the whole, allowing you to still have some control. To make sure you’re making the right decision, ensure you do your research and consider your short or long term goals for your property!