Borrowers move to fix home loans

More owner occupiers are opting for fixed interest rate mortgages says the Australian Bureau of Statistics with the latest figures showing that 14.7 of new loans in November were fixed rate(for more than two years), up from 12.9 per cent in October. Standard variable interest rates hover around 7.3 per cent while borrowers can fix a rate below seven per cent depending on the length of the fixed period.