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Home / Home Loans / Most fixers choose to fix rates for three years

Most fixers choose to fix rates for three years

27/02/2013

Two thirds of borrowers who choose to fix their mortgage rate are opting for a three year product. Three year fixed rate mortgages are by far the most popular of all fixed rate mortgage products.

Just 1.4 per cent of fixers opt for a one year fixed rate, while 10.24 per cent choose a two year term and 19.64 per cent go for a five year fixed rate mortgage.

Fixed mortgages remain a marginal product with the majority of borrowers; 80% to 85% choosing a variable offer of some kind.

Source: Property Observer



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Popular Mortgages $250k

 




Featured Home Loan Rates

Institution Product
Title
Standard
Rate^ (%)
Comparison
Rate* (%)
Details
Home Value Loan - Owner Occupied 3.55 3.57 Go to site
UHomeLoan SVR Value Offer (P&I) 3.64 3.64 Go to site
The Online Home Loan - LVR <80% 3.69 3.69 Go to site
Orange Advantage ($500k+ where LVR <=80% O/Occ) 3.74 3.96 Go to site
Fresh Start Basic Home Loan (Owner Occupier) 3.89 3.94 Go to site
Institution Product
Title
Standard
Rate^ (%)
Comparison
Rate* (%)
Details

^Standard rate for a $250,000 standard loan. The 3 year table shows loans that are fixed for 3 years.
*Comparison rates shown are based on a home loan of $150,000 for 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
For information on how we’ve selected these “Sponsored” and “Featured” products click here.


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