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Demand for variable rate mortgages climbing

06/08/2012

Demand for variable rate home loans surged three per cent to an eleventh month high in July, according to the latest data from brokerage Mortgage Choice.

Western Australia was the only state to go against the grain and report a drop in variable rate demand, which fell to 81 per cent from 86 per cent the month before.

Variable rate uptake across the remaining states was a rise of 3.75 percentage points as speculation of another rate cut in coming months lingers.

Source: The Adviser



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