We have had our home loan for over 3 years now and came off a fixed rate late last year. We decided to stay variable and negotiated a rate at the time since interest rates were dropping etc.
Today I went in to enquire about a few things and noticed a very competitive fixed rate (2 yrs) advertised as a special this month, got talking to the adviser and realised that by fixing even a portion of our home loan we could be saving several hundred $ a month. We haven't decided what to do as yet as we want to look at a few scenarios and get our home revalued as we should have a decent amount of equity now.
Just wandering what arrangements others have (if you don't mind sharing), with regard to fixed, variable or a combo of both and how it works for you?
Whilst we weren't so keen to fix at this time, if it saves us $500 or so a month maybe we should be looking at fixing some if it?!