More often than not you’re better on a variable rate than a fixed. There’s a whole bunch of reasons why, ranging from things such as flexibility to exit costs. However that being said, the 3 year fixed rate currently on offer from some lenders is incredibly appealing, with many coming in below 6%.

We had a representative from CBA in our office the other day who mentioned an interesting statistic; only 10% or so of the approvals they’re currently doing are for people purchasing property outright, including first home buyers, upgraders and investors. So what’s the other 90% of their home loan business consist of? Refinancing of course. Yes, there’s a swag of borrowers out there who are fed up with their current lender and are ready to jump ship for a better deal.

Combine the continuing strength of our dollar against America’s Greenback with a flailing US housing market where historically low values are fostering bargain buys and you have the perfect ingredients for adventurous Aussie property investor’s looking to cash in on opportunities in “the promised land”.

According to data from the National Association of Realtors based in Washington, Australians invested around $600 million in U.S residential properties in 2010 alone.

The government and Wayne Swan in particular, have loved playing hero for the Aussie home owner by attacking lenders and allegedly tightening the reins on their credit policies. Sweeping in like a white knight on his trusty regulatory steed, the federal treasurer believes his recent moves to abolish exit fees on new home loans will increase competition in the sector and give borrowers a better deal.