Who's afraid of an interest rate rise?!
Apparently us Queenslanders are worrying ourselves silly that rates are about to leap upwards. So we thought this graph might help allay your fears!
The yellow line shows the current variable rates and it’s encouraging to see the 3 and 5 year rates are not much higher. In fact you can lock your loan in for 5 years from as low as 7.54%. And if you think that’s just the banks being competitive what about a 10 year rate? You’re guessing maybe 12%, 10% if you’re lucky? You can currently lock in your home loan rate for 10 years from 8.09% – or approx 1% more than where variable rates are today.
Hopefully Brisbane home buyers can sleep better tonight!