Dear nickyjames, you need to work out whether the $5000 you will...

Dear nickyjames, you need to work out whether the $5000 you will incur will be less than what you save by coverting to variable and waiting for the fixed rates to come down further.

The only problem i have is that $5000 is say 1% change on a $500,000 loan with a year to go or $250,000 with 2 years to go. If there is only a year to go, you will be no better or worse by just waiting to see were interest rates settle. and i think they will get a little lower but by how much is the hard thing to determine.