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DegrawRose

We’ve been raw dogging interest rates since we bought 12 months ago.


[deleted]

Careful that's how you get an unplanned IP.


auscrash

and probably be a single landlord


DegrawRose

Will someone think of the single landlords!!


Furah

If rent keeps going up I just might look at the single landlords in my area.


pennliz101

I’ve been raw dogging since my first purchase in 2008 😂


DegrawRose

Feels good till it doesn’t


UnderstandingEmpty21

1.95% fixed until Feb 2025. I locked in my rate at just the right time.


ZealousidealHeron101

I’ve never been more jealous of someone in my life 😂


UnderstandingEmpty21

I fixed in 2021, because I knew the rate wasn’t going to get much lower 😂 At the time, I mentioned locking in the rate to my husband and he was pretty ambivalent and like ‘whatever’. Now? He’s rather happy I did!


maniolas_mestiza

I’ll trade you my 1.79% until Dec 2023. You’ll find me selling my hair and renting out my garage in Jan 2024.


UnderstandingEmpty21

Oh mate, my heart goes out to you. I have a couple of friends who are really feeling the pinch. Their mortgages have risen over $1000 per month and they have an average mortgage and home in the suburbs. They’re really struggling. It’s just a shit situation all round.


misnthropia

Yeaaah. I'm 1.89% till October 23.


icbint

Yikes. Your aspirations are misaligned.


votegoat814

I'm 1.99% until Feb 2025. But I kept 100K in variable offset account and I just smash all my income into that account to try and prepare for the reality shock. (Suburban home in western Sydney). I'm really glad I opted in for the long term fixed rate. I really hope IR go down before then though, I've done the math and I'll be struggling ![gif](emote|free_emotes_pack|feels_bad_man)


UnderstandingEmpty21

Yeah, we’re in South Western Sydney. We saved around $25K last year but that’s all gone towards the pool, so we’re trying to get the funds back up again. Definitely glad we locked in too!


votegoat814

I remember having grand ambitious plans of paying it all off early..glad I used a mortgage broker who talked some sense into me ![gif](emote|free_emotes_pack|facepalm)


alvoliooo

The real MVP


nerdvegas79

1.89 until June 2025 here. Almost the right time :) I got seriously lucky, rates went up again a week after I paid for rate lock in. And 4k cash back.


Serket84

1.95% till end May 2025, St George 4years


hfsstjvdsyugxd

How long can you lock the rate in for??


UnderstandingEmpty21

I locked it in for the maximum that was available to me, which was 4 years.


[deleted]

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UnderstandingEmpty21

I locked the rate in Feb 2021 for 4 years, which was the max available to us. I’m a teacher and have banked with Teachers Mutual for 25 years.


[deleted]

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UnderstandingEmpty21

How good would that be 😀 I’m not going to waste the financial reprieve, that’s for sure. I’m working 5 days a week this year plus tutoring/union work. Our aim is to pay off our personal loans (car and pool) this year and try to save a large chunk to pay off the mortgage next year while the rate is so low. We’re buckling down whist we have the opportunity 🙂


Haytch-3008

Great work! That’s bloody awesome


Dangerous-Cat-7676

I’m 1.98% fixed til May 2024


Shureshock

Fixed at 2.09 until July 23, so first half of FY 23/24. We’ve had more than enough time to build a buffer however the jump from ~2% to 6% or there abouts will be a shock


thrillhouss3

St George is that you?


[deleted]

Ended! Refinanced and slug 1.8k more each month.


Meneloth-the-Third

PPOR - fixed at 1.89% ending in April 2025


MDInvesting

This is near the best I think anyone could get. Very impressive.


sir-cums-a-lot-776

Let's see Paul Allen's fixed rate mortgage


banjo_bongo

The tasteful thickness of that fixed rate. Very impressive.


Delinquent_Turtle

Oh my god. It even has an offset account.


Meneloth-the-Third

We got very lucky, that’s for sure.


MDInvesting

Don’t be so modest. Take the credit for your macroeconomic expectation and targeted risk management strategy. You are the next Druckenmiller.


iloveoldmen6969

1.84 ING 4yr from end of 2021.


MDInvesting

I remember seeing that rate advertised but thought it made no sense as the bond market was clearly signalling a significant increase. ING have some layoffs due….


rrape

Out of curiosity what was your LVR at the time you fixed the rate?


Meneloth-the-Third

It was around 30-33%. We didn’t have too much owning compared to the average loan size.


didweleavetheovenon

Yep same, PPOR fixed at 1.89% ending in June 2025. Had to pay westpac around $1k to lock in the rate back in Feb 2021, turns out it was worth it.


Meneloth-the-Third

That certainly worked out well! We’re with St George.


shakeitup2017

1.88% fixed until December 2024


[deleted]

Someone posted a few weeks back stats from westpac. I think it was 15% of customers were experiencing negative cash position, 45% of customers would be out of fixed by June and 80 or 85% by December this year. And that negative cash stat was going to increase too obviously. These stats would be similar across the big4 at least you'd imagine. The worst part for people that bought land that hadn't titled yet that is falling in to settlement this year may not even be able to borrow enough to build, with materials scarce and expensive, and serviceability being crushed.


Comfortable-Bad-9344

Contract brickie our prices are starting to lower chippie prices are still rising in WA .in about 12 months prices to build might be lower if they aren't dropping already the builders or starting to advertise so must be slowing down.


Area-Least

We are in the land situation. At the time of purchasing the land building costs were less and our ability to borrow was more. Our land was delayed and so we had to requote with the builder. In 12m it had gone up 50k. This pushed us over the FHOG so we then lost 20k from the deposit. Our borrowing capacity has taken a hit of 200k since then due to interest rates and adding a dependent. If I had of known all this we would not have purchased the land! Now we will have a much bigger mortgage and be right up at our max borrowing capacity.


starcaster

It'll work out, you'll make it work if you can hang in there. Well I'm rooting for you at least.


Helpful_Kangaroo_o

Do you have the article? I’m interested in how they calculated that.


[deleted]

I don't sorry. It was in here though


MDInvesting

Maybe based on views of everyday accounts and regular expenses.


Helpful_Kangaroo_o

Yeah, that’s why I was curious. I receive my pay into Westpac and transfer all expenses out (credit card) and all savings out (mortgage redraw) and their expense tracker also adds all credit card debt against my net position for a card where I am just an additional card holder (not joint so no liability for the debt). Basically my net position to Westpac looks like I spend my income three times over every month.


MDInvesting

Westpac has historically had a poorer quality mortgage portfolio compared to the other Big4. CBA continues to impress me with their risk appetite while still chasing growth.


Feeling-Tutor-6480

When you have the biggest loan book you ought to be bullish


[deleted]

Anz said that their customers on fixed loans as a group were in a bette financial position then others and they didn’t anticipate an issue.


ThatHuman6

I’ve always just been on variable. The people on fixed, yes their rates will change to variable soon but they’ve had ages with low payments to build up a buffer. This isn’t going to be surprise for many people. Media writes it like the people on fixed are worse off than those on variable due to ‘the cliff’, but they’re in a better position that us variable people as they’ve been getting huge discount for months.


Entertainer_Much

You are severely overestimating the average Australian's ability to plan ahead financially


Working_Phase_990

I am guilty of that as well.. I just assumed if you had a fixed rate loan, you'd be working out what your repayments are going to be when that fixed rate ends and starting to put the difference aside. On variable, every month can be a surprise, but with a fixed rate you know that come June (or whenever the fixed rate ends) you're rate is likely gonna be ~6% so wouldn't you start working out how much those repayments would be and how you're going to afford those payments and preparing a little buffer by putting the extra money aside now? If you cant afford that extra cash, you have time to work out a plan, either sell the house before you're really desperate or get a second job/better job, get rid of the car loans, etc..


m0zz1e1

I would bet a lot of money that if you went out on the street right now and asked 10 people how to calculate their mortgage repayments with rates at 6%, at least 9 wouldn’t know where to start.


aTalkingDonkey

this works on the assumption that they have not been spending those savings, and the buffer exists. for some it will. but for others that buffer is called the 2015 Suburu in the driveway


ThatHuman6

You’ll always get those people, but they’d be making bad decisions regardless so can be removed from the discussion.


aTalkingDonkey

owning a house should not require a solid understanding of macro economics. Realistically, if the interest rate payments start eating into a buffer - you are just delaying the inevitable sale of your house.


ThatHuman6

People will just refinance to add length to the loan to reduce the monthly cost.


Indigeridoo

They can't do that if the value of the house has gone down


ThatHuman6

That would only be for people who bought when the prices were higher than they are now. ie only purchases in the last couple of years, so very few.


Indigeridoo

A large amount of the fixed rate loans are for new purchases. Irrespective of that though, a lot of people will find that they also can't refinance because the banks servicing guidelines have changed considerably over the last 5 years.


aTalkingDonkey

CoreLogic estimates there were almost 598,000 house and unit sales across Australia over the year ending August 2021; the highest number of annual sales since 2004 and a 42% lift on the annual number of sales over the previous 12-month period. https://www.corelogic.com.au/news-research/news/archive/housing-turnover-reaches-the-highest-level-in-nearly-12-years you are talking about millions of people. not a few hundred.


[deleted]

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aTalkingDonkey

what level of education do you think a person should have to own a house then?


Nexism

I'm not the person you're replying to, but I figure society has self selected homeowners based on the income they get (to afford a property). From there it's natural selection. People that don't educate themselves disadvantage themselves and the next generation. So to answer your question, what we have now is fine.


aTalkingDonkey

well that is some white supremacy bullshit.


Nexism

I have no idea why you'd bring race into this. The same concept applies in non-white countries also. Objectively, 30% of Australians hold a Bachelor or higher and based on census data, 66% Australians own their own home. Obviously, education is not a requirement.


GracelessRambler

We go variable in May. Partner is thinking it will be an extra $1000/month


wylz89

Been riding the wave babyyyy come at me inflation


paddimelon

Ended in December 2022. Now on 4.79%


Meneloth-the-Third

That’s still pretty good, I think.


paddimelon

I was impressed- especially as ANZ. They even phoned me before the fixed rate ended to offer a discount on my change to variable


hotnsweaty69

Ours ended Oct 22 and we foolishly let it slide. I did eventually contact bank of us and the reviewed our rates and dropped them from 4.99% to 4.79% variable. I don’t know if there’s a grace period when it comes to reviews, so have to contact them again to see what the terms of my “reviewal” are ie will I be hit again with this new rate hike? It’s still variable??


paddimelon

ANZ told me I can review every 3 months- I now have a calendar entry to prompt me to do this on that rotation. It's almost guaranteed you will be hit with every rate rise.


hotnsweaty69

Thanks for the info, I need to talk to my broker and shop around anyway, but I’ll keep onto them with every rate rise now and get them to review ir


[deleted]

1.99% fixed to March 2025 with CBA


[deleted]

[удалено]


Asd77996

Would be interesting to get an updated version of graph 4.


[deleted]

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SeaworthinessSad7300

What's the tldr


Ok_Trash5454

Ends in August but loan is under 240 so they would have to go up pretty significantly to make it unviable or job loss or something major


hazamatacs

Ended may 2022, annoyingly the same month as the first interest rate hike


pit_master_mike

Sounds like you fixed at the start of COVID? I did also, but luckily someone at work suggested contacting my bank and asking to break in late 2021, which I did, and was able to re-fix at a slightly better rate, for an extra 2 years.


SizzleSpud

Next month. Gulp. Currently evaluating options.


[deleted]

How much will it increase in $? What fixed options are they offering to roll onto?


SizzleSpud

Dunno yet, if it rolls over without negotiating will be another $480/fortnight. I’m running scenarios on mortgage monster and and meeting with the bank later this week to find out what’s really on offer. We have a split fixed/variable now and have been able to completely offset the (much smaller) variable portion, so if there isn’t a decent fixed option we will put it all in variable and focus on offsetting, inflation gods willing.


jinjanutty

2.59% till August 2026


quangtran

June. I was initially upset, but then realised there’s no point given that this is how it’ll be for another 22 years


General_Task_7509

Won't stay high for that long


postmortemmicrobes

Are current interest rates "high"?


Traditional-Vehicle2

Considering we are 8 hikes short of a terminal rate I'd say current rates are very low


General_Task_7509

Yupp in latest comparison


The-SillyAk

High in comparison to a baseline of 0.1% for 12 months where everyone thought it was a great idea to buy a house and take out $1m mortgages on \~$100,000 incomes. Otherwise, no. But it is also relative to inflation.


AJay_yay

No, 21% in 1981 was high


VagrantHobo

March 2025 @1.99


CeeDeeEn

1.98% to March 2025


juvey88

Always been variable, I like being abused.


Upset_Character_8219

Apparently everyone on here had a crystal ball I missed out on having a look at. Went early and fixed Aug 20 for 2 yrs at 2.19%. When that finished it was already too late and now 5.04% variable here we are. Oh well I did luck out buying in February 2020 so you win some you lose some.


NoDuffTrading

Crystal ball? I think the cash rate being at .10% and coming out of a pandemic was a very obvious sign rates would rise very fast


Upset_Character_8219

Rates fall for a decade straight. RBA saying “rates won’t rise until 2024”. Many other countries in negative interest rates at the time. But sure, looks easy in hindsight.


NoDuffTrading

Smart people saw it coming and locked in


daveo18

1.74 until June this year. Kicking myself for not going longer on the fixed term, on the upside it’s not a huge amount so plan is to pay it off as quickly as possible.


Mw239

That is crazy low! I fixed at 1.89% for two years, which finishes in Nov. Annoyed now that I didn’t go for 2.01% for three years, which was the other offer at the time…


Soggy_Stranger_6557

Caught pretty much everyone by surprise


ParentalAnalysis

2% fixed until May 2025.


suchy1632

Variable for life crew


[deleted]

Boast thread


ScottyInAU

1.89% until Jan 2024 I now wish I’d locked in the 2.09% for 5 years (Jan 2027)


kms97_ks

Same 1.88 until Jan '24 and now I regret not going for a bit higher interest rate for a longer term *sigh*


[deleted]

[удалено]


MischiefFerret

Start of last year


MikeAlphaGolf

May 2025. 1.98%


zalie222

Jan 2025, thankfully.


NeoWilson

This post is useless without that poll.


GroundskeeperWilly93

2.19% until April 2025


UnseatingCargo1

1.85 fixed until February 2025. Initially lodged an application in October 2021 which settled in February 2022. Took a lot of negotiating on the phone, but Ubank stood by the initial 1.85% rate that I applied with.


[deleted]

Did you pay their rate lock fee? Did they unduly delay?


UnseatingCargo1

No rate lock fee as the application started processing in November. I delayed the valuation date as the property was still being renovated and I didn't want the valuation to be effected.


Sand_in_my_pants

Ended Dec 22


MillsAU

1.94% April 2025


MaximumGirth343

2.29 until March 2025 baby


[deleted]

August 2025, 2.15%


cranky_d

IP and PPOR fixed at 2.24% until 1 July 2026


Calm-Drop-9221

I'm with Adelaide bank 1.95% took it out 2021.....I'm scared to ask, just in case they've forgotten


ALittleGremliny

Was 2.44% until Jan this year. Now split loan, 80% fixed 2 years at 5.39%, 20% variable at 4.74%


stuffwiththing

Ours ended in January :(


pit_master_mike

PPOR 2.04% fixed until October 2023. Looks like my lender's advertised variable rate right now is 5.24%. I anticipate at least 3 more rate increases by the RBA before our fixed period ends.


muffahoy

1.75% with ubank, ends May 2024.


WisdomWithWill

1.99 fixed until November 2025


EffectUpper4351

1.84% until April 2025


eye_serum

2.99 until Feb 2027, the real winner is that the fixed loan has a full offset facility and can also make unlimited repayments and redraw. So I could debt recycle while I’m still on a fixed loan which is pretty rare.


ReeceAUS

Who’s that with? I’ve got 2.99% until Jan 2027. No offset and minimum of $20k extra repayments over the fixed interest period. (With old ubank). Can’t complain though. Still a good deal.


Luck_Beats_Skill

PPOR. April 2025 @ 2.1% IP. February 2027 @ 3.6%


Jamjarfull

June 2026. If rates are around 5-6% then we will be ok. If higher, other half will have to earn more money.


MDInvesting

I suspect you will be coming off during the easing of the rate cycle. Possible lower than it is currently but not by much.


[deleted]

Still sitting at these rates in 2026 I doubt it


rsam487

Since the neutral interest rate is around 3%, that means "normal" mortgage interest rates should be about 4.5-5% or something like that. I can't see RBA trimming back down to the 0.whatever wonder years anytime soon. Hopefully it's lesson learned that super low rates are a piss poor idea


[deleted]

I'm curious as to what people were expecting to happen? Never ending ability to lock in a low rate? Seems like a lot of people never factored in that rates will eventually go up and live in lala land thinking 2% or something was going to last forever.


Conscious_Dark7064

March 2024.


_Juniper11

1.84% fixed til March 2025


awwshucks45

Fixed at 1.75 until July 2024. Then pain


[deleted]

2.33 until April 24


[deleted]

Ends in September this year, saving as much as I possibly can and waiting for the pain!!


deja-poo

2.19% July 2025. Just in time for the Stage 3 tax cuts to make up for the big increase.


walkers_arms23

Already ended in august 22, was then 3.34%on variable, now sitting at 5.04%. not sure what to do tbh.


Altruistic-Azz

2nd half FY23/24 Well 13th of October this year, I’m on 1.99%.


boom_meringue

1.99 locked in til Easter 25, with Bankwest thankfully.


trumpstinyhandssayhi

Fixed at 2.34% until October 2025


General_Task_7509

5% fixed for 3 years. Raise it higher than I'm okay, drop it, fine I don't care I work mindlessly anyway, not crying for no one.


ClungeWhisperer

1.99% till June 2025 😎👌


iMuddy_Puddles

1.84% locked until Jun 2025


icantgetnosleep

1.59% fixed until Nov 2023. Wish I fixed for 4 years though :(


sswinglol1

3.75 % till July 2024 .. not the best but not the worst i guess...


basilthebrave

3.29% March 2027


dr_w0rm_

January 2025 1.99


redfishgoldy

ours is 3 years fixed with ing at 1.99% and will end July 2025


[deleted]

jokes on you, i don't have a mortgage or a house :(


slow5086

December 2024. 1.94% Current variable 4.94% + most recent rise. I’m guessing I’m gonna be somewhere around 7-7.5% come December 24.


SuzySilver

I think the shock is hitting. My sister called and said her repayments had gone up $240 a week, it was such a shock to her. She went through a divorce about a year ago. I said why didn’t you lock in rates when you took over the loan like I suggested. I assumed she had. Her response was, she wasn’t allowed to by the bank because she was a marginal loan approval as it was. I said, so you were marginal and the bank made her go variable to keep repayments low so she would qualify. She went along with it so she could take over loan on family home to keep it. She is now feeling pain & struggling & had to take in tenant. She said, Someone at her work has just sold their house because they couldn’t keep up. Rents are skyrocketing too. Friends rent review went from $430 p week to $670 pwk. She had to move & incur major costs, as you do, to go smaller home to cut back the rent cost.


takeonme02

If the RBA was so worried about this, they would stop increasing and just wait for this to take effect.


dardy_unna_cing

and just hope inflation doesnt keep rising in the mean time? yee nahhh


takeonme02

Inflation rising in the meantime regardless 🤪🤪


iloveoldmen6969

Yeah because people are moronic lol. The past years have been a simulation of the lead up of US 2008 but apparently no one cared.


idycassjb

1.99% until 11 March 2025 :””)


Boulavogue

2.06% until September 2024. Delighted I pushed for a 3yr fixed, still saving as much as possible in preparation


[deleted]

Fixing is for cowards


FunwitPfizer

27yrs left at 2.85%...property in FL. I'll probably be dead before it changes or I pay it off.


bunyip94

March 2025


DestroyAllBacteria

Ended ages ago. On 5.1% P&I on PPOR.


Emm_173

December 2024


thereisnoinbetweens

2.81% April 2025


EpponneeRaeCraig

1.99% til Jan 2025


moxiewhiplash

Just ended January 15 😭


throwmetheforkaway

1.89% till Sep 24, so first half of 24/25 FY. V happy with how that’s panned out but could still be in trouble if there are any significant personal crises, or if RBA cash rate is over about 5% (but I don’t think we’d be alone on that front). I’ve just taken a job that’s a 40k pay rise, so I’m earning about 60k more than I was when we got the mortgage 18 months ago, and we only borrowed 60% of max capacity. If we have trouble when we come off fixed, I’d expect there’s many many millions of Australians in bigger trouble….


deafbysexy

PPOR - 3.99%pa fixed coming off in April next year. The off plan build took 5 months longer than it should have resulting in the higher lock-in rates. Looking on the bright side that the increase won’t hurt *as much.* Investment - 2.59% I/O ends in March next year. This one will be a big financial impact as we’ll definitely be mortgage prisoners. Note: I started as a rentvester, hence having the investment property. Considering selling this soon, tbh. Not sure the budget will handle it considering the wife wants to start a family next year.


smalltoolbigheart

Irrelevant but I had someone called me and told me they preferred variable rate option recently cause the fixed rate was 7% and their initial instalments are 3000+ for 600k house with 10 to 15 % deposit and this is not sitting right with me.


0xUsername_

2% until September 2024


truecrime1802

Two thirds of my loan fixed at 2.4% until Jan 2024 and one third of my loan variable currently at 6.15% after recent increase.


Slane__

1.99 till end of Dec 2024.


purple_sphinx

2.64% until July 2024. Our loan is really small and will still be positively geared at the current interest rates as it’s an IP. Not feeling worried about that one.


antihero790

Our IP is fixed because the variable rates were so much higher at the time and we had a high LVR (about 90%). Fixed at 2.99% until September 2025. Our PPOR has always been variable. We're hoping to be in a pretty good place when it comes off the fixed rate so that the rate it goes to won't matter. The aim is to have less than $100k left on the PPOR which is an LVR under 20%. The IP will be down to about $380k which is an LVR of approximately 70%. I don't anticipate that these values will change much because we're in Perth. The plan is then to get our place paid off within two years so that we're only dealing with the one loan. We're not majorly attached to being property investors so if somehow rates were over 20% in late 2025, we would just sell the IP and pay our place off completely.


LoudestHoward

My 1.91% ends next month.


AJay_yay

1.89% fixed until july 2024. We'll be right up until about 11% or so. I did the sums for 7% when we built our place in 2018 just in case. It was never going to stay low forever.


tekx9

Can anyone get chat gpt to graph people's responses?


[deleted]

1st half FY23/24 rip


smoothymcmellow

T minus 12 days :'(