Friday, October 8, 2010

Best Fixed and Variable Mortgages

According to the Barefoot Investor newsletter today, the following are the top value mortgages available in the market... know any better? leave a comment. 



TOP VALUE MORTGAGES
(BASED ON A BASIC NO-FRILLS LOAN, $350,000 OVER 30 YEARS)
Variable rate:
Bank lender: NAB Tailor Choice, variable rate 6.54%, real interest rate 6.70%*
Mutual: Newcastle Permanent, variable rate 6.49%, real interest rate 6.63%

3-year fixed rate:
Bank lender: AMP Bank, fixed rate 7.14%, real interest rate 7.41%
Mutual: CUA, fixed rate 6.75%, real interest rate 6.88%

5-year fixed rate:
Bank lender: ING Direct, fixed rate 7.44%, real interest rate 7.07%
Mutual: Heritage Building Society, fixed rate 7.29%, real interest rate 7.20%


*Real interest rate (RIR) is a rate incorporating interest plus the lender’s fees and charges for establishing, maintaining and exiting a loan.


1 comment:

Yarrawonga said...

They are not too bad, did the newsletter mention anything about predictions of where they see Interest rates in the near future?

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