3-year fixed interest rates are some of the lowest on the market right now, as lenders try to entice borrowers with a lower rate before rates start falling. While this makes it a better time to fix your rate compared to the last couple of years when they've been much higher than variable rates, you need to ask yourself what rates might do next. Rates are expected to start going down, and if you lock in for 3 years you won't be able to take advantage of the lower rates on offer. At the same time, it's never easy to predict what rates will do at any time.