Economic Update
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  Running Time: 7:44 Date: 21/10/2012 Fixed or variable? The economic clock's ticking, time to start thinking about which way to go... There's lots to think about right now, says economic forecaster Professor Neville Normnan, as he looks ahead to the economy in 2013. Time now, Neville says, to consider the possible movement in interest rates in the year ahead, how that's going to affect your loans, and the difference it'll make if you decide to go variable, or fix. Compared to the doomsayers among his economic peers, Neville has a positive view of the economy ahead. He think there will be a surge in 2013. That could bring higher interest rates. So his advice: do the maths, do some comparative sums, consider your contracts, and whether you're a borrower or lender you could save or make yourself thousands of dollars by making the right call at the right time. But don't forget some forward projections too - should you fix for 3,5, even 10 years? Neville offers some thoughts in this interview. Topics: Economy |
 Professor Neville Norman, Melbourne University |