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1 in 4 now choosing fixed rate loans

09/01/2012

Borrowers are sticking with fixed-rate home loans despite consecutive cash rate cuts, according to research from mortgage broking chain Mortgage Choice.

Fixed rate loans accounted for 24 per cent of all new home loans in December, up 3 per cent from November and well above the 12-month average of 15 per cent.

Mortgage Choice spokeswoman Belinda Williamson said borrowers were “reluctant” to move away from fixed-rate home loans. The figures showed demand for variable rate loans dropped from 79 per cent to 76 per cent and was below the 12-month average of 85 per cent.

Source: Courier Mail



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