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Half get mortgage discounts

06/10/2011

Discount rate mortgages are now accounting for 45 per cent of all home loan approvals according to Mortgage Choice.

Fixed rates also experienced increased borrower appetite in September, growing to 17 per cent of all approvals.

Mortgage Choice spokesperson Kristy Sheppard says, “Australia has almost reached the point where one in two new borrowers is seeking the combined benefit of affordability and flexibility above and beyond any other loan type advantages.”

Demand for standard variable and basic variable rate home loans fell in September, to 16 per cent and 15 per cent of approvals, as did that for introductory rate loans, to 2 per cent.

Source: The Adviser



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