Taking home loan rates back to the 1950s
Here is a low variable home loan interest rate that will knock your bobby socks off – 4.99%pa.
Why bobby socks? Because our 4.99%pa rate (5.01%pa comparison rate) is the same variable interest rate that Australia had in the late 1950s, when bobby socks were all the rage.
That’s right. We have taken home loan rates back to the 1950s. Think Happy Days, Richie Cunningham, Joanie, Chachi and The Fonz! Or, if you prefer, think Melbourne Olympic Games, atomic testing at Maralinga and ‘Welcome to television’.
Our 4.99%pa variable interest rate is a real offer, for a short time only. It is available for online applications and new home purchases only. We call it our “blackboard special”!
This is the rate that Australia had about 57 years to the time when the Cold War was in its infancy and the British conducted atomic testing at Maralinga in Australia.
This is the same variable interest rate that Australia had when its population was just 10 million and Qantas was about to launch its first ever international flight.
This is the same rate that Australia had when Melbourne hosted the Olympic Games. When Disneyland just opened in California and Elvis Presley got into trouble for swiveling his hips on US television.
This was the home loan interest rate that Australia had when Russians sent a dog into space and the US Government taught its citizens to ‘Duck and Cover’ as protection in case of nuclear attack.
In retrospect I guess we should have called it the ‘Duck and Cover’ rate. Or the ‘The Cat in the Hat’ rate, after the great children’s book by Dr Seuss book that was first published in the 1950s. Or the ‘Welcome to television’ rate to mark the year that Bruce Gyngell launched commercial television in Australia.
Anyway, we settled on ‘blackboard special’ because it gives us more time to spend on finding ways to save you money by handling your finances online.
By Marie Mortimer. You can follow Marie on Google+
Image credit: lusi