What is the most popular type of variable rate hom

Variable rate home loans are much more popular than fixed rate home loans but there is more than one type.

Discount loans are the most popular type of variable-rate mortgage. In January 2015, discount loans accounted for 44 per cent of all variable-rate mortgages.

Standard variable home loans accounted for 17 per cent of the variable rate market according to one large mortgage aggregator, while 14 per cent of borrowers chose basic variable loans.

3 per cent chose line of credit loans and introductory rate loans accounted won over 1.5 per cent.

Source: The Adviser

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