What term should I fix my mortgage for?
Wondering what fixed terms to go for? Here's what ANZ have to say...
Our expectation of a further 50bps of OCR cuts over 2016 [the Reserve Bank cutting
the Official Cash Rate by a further 0.5%] suggests that borrowers should opt
for the one-year term, although borrowers could also lock in a portion of
borrowing at the two-year window to provide more protection. With OCR cuts on
the cards and no OCR hikes until 2018 by our reckoning, longer-term rates don’t
offer the same value at present.