Free Newslink Signup
x

Don't miss out on Australia's Top Property Investment news.
Sign up for Hotspotting's FREE newsletters!

  • *Required fields

 

More borrowers opt for fixed rate

By Terry Ryder, 11th July 2009

A growing number of people are taking advantage of the continued low interest rates by locking in fixed-rate home loans, according to financial comparison firm RateCity. 

Research carried out in conjunction with Canstar Cannex found the number of people applying for a fixed-rate home loan increased from 27% in April to 49% in June. 

Data from the Australian Bureau of Statistics confirms that fixed-rate products as a share of the home loan market has risen to a 10-month high. 

Michelle Hutchison of Rate City says the spike in fixed-rate applications is a result of current market volatility. “Many people expect interest rates to rise and find greater comfort in securing a fixed-rate where they know their repayments won’t change,” she says. 

Hutchison expects a further fixed-rate increase over the second half of 2009, following the 7 July decision by the Reserve Bank to leave the cash rate at 3%. 

ENDS

Premium Reports

More Premium Reports »

Location Reports

More Location Reports »

Latest Articles

More Articles »

Select Your Report

LATEST REPORT

The National Top 10 Best Buys 2012

Each of the reports in the hotspotting.com.au stable of publications contains a Top 10 list of locations tipped to out-perform the general market. These locations are considered to have growth drivers…

Read More

SUBSCRIPTION

The Ryder Report

This is a quarterly subscription newsletter which contains all the crucial economic, infrastructure, population and real estate details that underpin the property market.

Read More

FEATURED LOCATION

Ceduna

SA: Regional centre, far western South AustraliaCeduna is one of the loneliest towns in Australia. It’s also one of the most boom-ready towns in the nation. It has some of the strongest medium-t…

Read More

LATEST ARTICLE

Luxury car sales point to rising confidence

Jennifer Lancaster, 10 May 2012

It seems wealthy car owners have been updating their rides, and consumer confidence is lifting generally. CommSec’s luxury car sales index shows that after a subdued 2011, 126 new luxury cars we…

Read Article

FEATURED ARTICLE

Investors being robbed blind by "advisers"

Melanie Stott, 17 May 2012

So you’d like to invest in property? That’s how everyone makes money, isn’t it? Put your nest egg into bricks and mortar – then watch it grow in value. But who do you turn to f…

Read Article

Comment

Three good signs of market improvement

Michael Matusik, 12 May 2012

The usual drill – three minutes of your time and all with a positive feel.  Monday is the day to be down, Saturdays are for looking up. 1. 3 good signs Here are positive signs from out th…

Read Article

Website by Arrowsmith Websites Sunshine Coast. Business & Government Websites, Social Media, Web Hosting, Domain Names & SEO. Website Design Sunshine Coast, Australia.