Fixed rates to fall
A snippet from yesterday's population release.
Net overseas migration hit a record high of +106,200 for the September 2022 quarter, the largest 3-month increase in modern history.
Westpac now sees the Reserve Bank holding interest rates in April to take stock of the situation to date.
Looking further out, with the sharp declines in the 3-year bond yield, lenders are already starting to cut their 3- and 4-year fixed rate mortgage offerings.
There's so much competition between lenders for new business that it's imperative borrowers shop around for the best possible deal.
