February 01, 2017
An increasing proportion of mortgage holders are opting for the security of a fixed rate mortgage, with demand for this type of home loan rising month after month.
According to the latest national home loan approval data from Mortgage Choice, fixed rate home loans accounted for 22.97% of all loans written in January, up from 22.04% in December and 19.51% in November. The last time fixed rate demand was this high was back in May 2016.
It would seem the threat of rising interest rates is enough to encourage a growing proportion of Australian mortgage holders to partly or wholly fix their home loan.