A fixed home loan is a type of mortgage loan where the interest rate remains fixed for the length of the term agreed. This is different from variable interest rate home loans, which can change as a result of market conditions and the cash rate set by the Reserve Bank of Australia (RBA). There is no absolute right or wrong answer here, and it is very dependent on your needs and situation for the foreseeable future.  By taking out a fixed interest home loan, a borrower may be able to avoid rising interest rates and enjoy greater financial security and stability, allowing you to budget more accurately with set mortgage repayments (for the fixed term). However, some of the ‘cons’ of fixed rate loans include less flexibility, not impacted by rate cuts, that the term will end, and there may be break costs involved if you refinance out of the specified term.  We can help you decide whether it is the right thing for you at this point in time by going through all your options.