Finance > Insurance > Home InsuranceWhat Are The Benefits Of Fixing Your Home Loan?
Posted by shreekantrao89 in Finance on February 17th Cheap Kevin Stewart Jersey , 2017


With their interest rates slightly lower than the variable home loans, fixed rate home loans are usually the go to option for first home buyers and also a favorite for investors who are looking for certainty. In the event the interest rates decide to play the Russian roulette, these loans can save you thousands of dollars when the interest rates are volatile. However, if interest rates drop during your fixed term, you may miss out on big savings.


On the surface, the five year fixed rate loans are very straightforward. The interest rate charged on the home loan is fixed at a set rate for a period of up to five years. Mortgage borrowers tend to have a lot of options when it comes to the term of their mortgage. However here in Australia, most borrowers prefer the five year mortgage plan. Though their initial borrowing costs are higher Cheap Jordan Henderson Jersey , fixed rate home loans offer borrowers predictability and a peace of mind.


Despite the fact that interest rates in the Australian market have been relatively low and remained stable in recent times, fixed rate home loans have remained as popular as the variable loans.


So What Makes Many Australian Home Buyers Go For The Fixed Rate Home Loans?


Most home buyers have families and are working on a tight budget. With your loan fixed for a five year period, one is able to budget their finances more predictably knowing well what their expenses would be for the foreseeable future and not being at the mercy of fluctuating interest rates.


Just like their variable counterparts, many fixed rate home loans now offer redraw facilities and extra repayments making it possible for you to pay off your loan faster. But, be sure to read the fine print carefully because some of these extra features like refinancing and extra repayments are available at a fee which can run into thousands of dollars. To be on the safe side, make sure you are aware of any break costs included in your home loan contract.


At the end of your five year fixed term, you have two options:


Recommit your loan to another period of fixed interest rates


Switch to a split loan product where you are able to enjoy the variable and Property Loan Interest Rate options at the same time


However Cheap Jon Flanagan Jersey , in the event that you are undecided which way to go, use our home loan calculator to help.


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BEIJING, March 12 (Xinhua) -- Chongli, a small town about 200km northwest of Beijing with only 30,000 population, might be the biggest beneficiary from the successful bid of Beijing, together with Zhangjiakou Cheap Joel Matip Jersey , for the 2002 Winter Olympics.


To stage most of the skiing events of the Olympics, Chongli has witnessed skiing and tourism becoming the mainstay of its economy as it received over 530,000 tourists, 17 times more than its population in town during China's Spring Festival 2016, making over 400 million yuan (61 million US dollars) in tourism income for 26.1 percent growth over the same period last year.


The average house and real estate prices in the used-to-be poverty-stricken Chongli County, under administration of Zhangjiakou city, have soared to around 10 Cheap Joe Gomez Jersey ,000 yuan (about 1,500 dollars) from 5,000 yuan since the Winter Olympic bid.


The construction of Beijing-Zhangjiakou high-speed rail link already began last year and the rail service will be fully operational by early 2019.


Olympic venue, convenient transportation, pleasant climate and ski resorts are the luring elements for more and more Beijingers buying houses in Chongli.


Until now, Chongli has opened five ski resorts to the public, which arouse people's interest to take part in skiing here nationwide.


"We received over 8 Cheap James Milner Jersey ,000 people on Jan. 2, marking the peak of the resort per day," said Yu Donglin, manager of Wanlong, one of the largest ski venue in Chongli.


Two million people are estimated to take part in this near-ended snow season, as compared to 1.01 million, 1.42 million and 1.67 million respectively in the last three seasons.


"Wanlong got out of the red in 2015 after 11 consecutive years' loss Cheap Harry Wilson Jersey ," Yu added.


Yang Jingzhi, former Hebei sports bureau vice director, has witnessed the tremendous changes in Chongli in 16 years.


White clouds, black land, green trees and grass, fresh air left a so beautiful impression in Yang's mind when he went to Chongli, nestled in mountains near the Great Wall Cheap Georginio Wijnaldum Jersey , on a summer day 16 years ago, while the residents were so poor that their houses were even half underground.


"At that time, people there earned a little money by selling wild mushrooms, while gold resources were the main income of Chongli," Yang added.


Chongli has realized fast development since the Chinese government committed to poverty alleviation and building a well-off society in an all round way.


"Natural condition is unchanged, still beautiful as a decade ago. People's living standard has improved a lot and so does the house price," Yang said.


Huge market provides jobs for local residents Cheap Emre Can Jersey , among which 20,000 engage in skiing and tourism industry. Nearly 10,000 people live in rural areas and earn living by growing green house vegetables which is widely promoted in the district.


The preparation work of 2022 Beijing Winter Games is underway and has become a hot topic on the ongoing National People's Congress.


"Zhangjiakou will make relevant plannings and designs this year," said Hou Liang, a delegate of the 12th National People's Congress.


All the venue construction will be completed by the end of 2020 when the city is capable of holding test events, said Zhangjiakou mayor Ma Yujun who had released the city's five-year development plan in January.


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