February 02, 2015
With speculation there will be cuts to the cash rate this year, Victorian borrowers are leading the nation in their preference for variable over fixed rates.
January approval data from Mortgage Choice shows that 84.78 per cent of loans approved in Victoria had a variable rate, an increase from 78.80 per cent one year ago.
Nationally the preference for a variable rate has increased to 79.45 per cent, compared to 72.57 per cent 12 months ago.
While fixed rates are decreasing in popularity at the moment, there is no right or wrong when it comes to choosing between a fixed and variable rate home loan.
At the end of the day, it comes down to personal preference and what option you feel most comfortable with.
And that's where we can help by explaining the pro's and con's of each, so you can make an informed decision.
If you would like some help or advice, call us today on 03 9432 6070 or contact us online here.