Added over 9 years ago

Increased demand for Fixed rate loans

Fixed rate loans approved in December was the highest level recorded since May 2008. Mortgage Choice data for December indicates that despite fixed interest rates increasing  to a 31-month high, every state had an increase in Fixed rate loans. Kristy Sheppard from  Mortgage Choice says Australian demand for Fixed rate loans was at 15.2 per cent in December which was “more than triple the 12-month average of 4.6 per cent". The data confirmed the cautious attitude of Australians and that they are locking in the interest rate so they have better control in meeting repayments.

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