
As low as it could go: is now the moment to fix your mortgage rate?
Australia’s cash rate is now the lowest it has been in 23 years, a reaction initially to stunted economic growth and now to the impact of COVID-19 on the local and global economic landscape. As the uncharted negative interest rate zone looms, is it worth fixing your rate? Here’s what to weigh up when making your decision. The RBA has stood by its promise to keep the current rate of 0.25%, which still represents a historic low. RBA governor Philip Lowe has said that it’s highl