Swap rates continue to decline

The 5 year swap rate has cemented recent declines to today sit @ 3.66%. This is down from 4.27% on the 2nd of November 2014 and 4.52% a year prior. A driver of 5 year fixed interest rates for home loans it is down from 3.96% as recently as mid December.

Negotiate hard with your bank if seeking the certainty of a 5 year fixed interest rate as the advertised 5 year rate’s are in excess of the available rate at present…