While all eyes have been firmly on standard variable rates, fixed rates continue to fall.
Yesterday, RAMS announced it would drop its one, two and three year fixed rates to 5.39 per cent.
RAMS chief executive Melos Sulicich said fixed interest rate home loans and splitting between variable and fixed interest rates were a popular choice for first home buyers who are looking for repayment certainty when starting out.
“The recent RAMS First Home Buyers’ Pulse Check survey showed around two thirds of first home buyers surveyed intend to take out a fixed interest rate or split home loan in the next 12 months,” Mr Sulicich said.
“Fixing your interest rate could be a smart option, allowing customers to lock in the certainty of monthly repayments.
“Another option to consider is splitting your home loan between fixed and variable interest rates to make the best of both worlds.”