Should Danny keep paying the car loan at an interest rate of 6.9% fixed for the next five years or consolidate the car loan with the home loan at 4.9%?
Borrowers have little to lose if they lock in their mortgage with fixed rates so low. If you expect two rate hikes of 0.25% each over the next four to five years, then locking in a long-term loan is a good idea.
Galaxy found 57% of Australians with a credit card, 48% with superannuation and 47% with a mortgage are not confident that they have the best deal. Here's how to avoid rip-offs.
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