Newtothegame, i have a good freind in Westpac and asked what are...

Newtothegame, i have a good freind in Westpac and asked what are fixed rates likley to be in the near future.

His answer: fixed rates will not move to much with this rate cut, we are looking at anywhere from .2 to .5 depending on the ammount of years!!!!!(but did not rule out not passing any on at all?)
So best case you would get a 3 year fixed at 4.99% (this would be currently 5.69 less .5 and less the .2 discount you get ! Some weeks ago Westpac where offering 4.99 fixed for 3 years only, all other years where much higher. This was only a special for a limited time..he says they are still back logged from this in processing.

Internal they have only budgeted for .5 to .75% for march and would more than likely pass on half if rba slashed rates again.

As im looking to fix for several loans myself i think anything in the 4% mark is going to be good, the question is how long can i fix it for at 4%. ( i think 3-4 years max) i hope im wrong of course....