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Is fixed or variable rate better?

This will depend on your personal situation and preferences.

If you prefer the security of knowing exactly how much your repayments will be every month, then a fixed rate home loan locked in for a set period may be better for you.

If you don’t mind your interest rate changing according to market fluctuations and would rather have a loan with features that can help you pay it off quicker (such as an offset account), then a variable rate loan might be a better option.

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