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ISCOVER
Jessica Darnbrough
With the yield curve showing some volatility of late, brokers may want to have a discussion about fixed rates with their clients, one industry stakeholder has said.
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Speaking to The Adviser, Citibank’s head of mortgages, strategy marketing and product, Belen Lopez Denis, said the latest data show the yield curve is starting to track upwards, which suggests both fixed and variable rate mortgages could soon be on the rise.
“Whether the borrower wants to fix part or all of their mortgage is entirely up to them, but fixing part or all of the mortgage may just provide them with some level of certainty,” Ms Lopez Denis said.
In today's volatile market, she added, a rate lock feature is invaluable to borrowers since fixed rates may rise between when the client first agrees to fix and when the loan is officially settled.
“At Citibank, we are offering some really competitive fixed rates at the moment. In addition, we have our free 60-day rate lock feature, which allows borrowers to lock their fixed rate in at the agreed price from the beginning of the loan transaction.”
“Our free rate lock tool gives borrowers and brokers that extra piece of mind,” she added.
