Powered by MOMENTUM MEDIA
realestatebusiness logo
Subscribe to our newsletter SIGN UP

Borrowers back-off fixed rates

25 September 2009 Reporter

More Australians are choosing variable home loans over fixed, according to the financial comparison website RateCity.

Data from RateCity showed applications for fixed rate home loans has fallen steadily since June this year.

In August, 27 per cent of all home loan applications were for fixed loans, significantly less than the 33 per cent peak recorded in June.

RateCity’s chief executive officer Damian Smith said he expects the number of fixed rate loan applications to fall further in September.

“Fixed rate home loans will remain less popular than variable home loans as more lenders introduce different types of features to the market including rate tracking and capped loans,” he said.

Borrowers back-off fixed rates
lawyersweekly logo
FROM THE WEB
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast

Where is the biggest threat to agents in 2019?

3rd party lead generation companies
DIY models discounting sales commission
Prop-tech firms cutting out the agent value proposition
A yet unidentified proper disruptor – like Uber or Airbnb
None of the above. There is no threat.
Do you have an industry update?
REAL ESTATE BUSINESS NEWSLETTER
Ensure you never miss an issue of the Real Estate Business Bulletin. Enter your email to receive the latest real estate advice and tools to help you sell.