Fixing mortgage rates 'is a good risk management strategy'
Aussies looking to take out home loans may be able to benefit from opting for a package that offers a fixed rate of interest.
With this in mind, customers looking for home loans may be able to protect themselves from future increases by taking out a fixed-rate mortgage, Yourmortgage.com.au stated.
Medine Simmons, director of MF Simmons Mortgage Broking, told the publication that these deals are a great way of managing the risk of interest rate rises.
She suggested that those who do not wish to fix their entire mortgage into such a system just do this with half their loan, while keeping the other half on a variable rate so they may benefit if rates fall at a later date.
"If you're a bit nervous about your loan, fixing part of it is a great way to manage risk and start feeling comfortable about the repayments," the expert added.
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