Borrowers increasingly like variable rate loans
Demand for fixed-rate home loans is falling and demand for variable rate home loans is rising.
A large mortgage aggregator reported that fixed-rate loans sales are currently less that 15 per cent of all loans written (September 2015). That is down from about 17 per cent in August 2015.
This is the lowest level of demand for fixed rate loans since 2011. Interest rates are currently set at historically low levels and the RBA is expected to cut rates further in coming months.