This could well be why the BIG FOUR banks in Australia have just launched a big push to sell mortgages with fixed rate component at the beginning to lock them in with the lure of low interest rates.
They have slashed the rate to 5%/4.8% fixed but I don't know the term.
I know this sounds counter intuitive as fixed rates are probably best for banks when the rates are going to drop.
Given our government has got its nose buried deep in the U.S. posterior I think the RBA will start hawking higher interest rates soon. I saw the immigration minister and one other supporting Israel's war in the Gaza this morning.
