Free Newslink Signup
Don't miss out on Australia's Top Property Investment news.
Sign up for Hotspotting's FREE newsletters!
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
Terry is the owner and creator of hotspotting.com.au, which provides information to property investors on how to identify emerging markets before they’re common knowledge.
UPDATED
UPDATED National Top 10 Cheapies with Prospects: Regional Edition It's a common complaint: I want to invest in property …
National Top 10 Cheapies with Prospects - City Edition The "Cheapies with Prospects" suburbs have become the most …
National Top 10: The Long Shots A property investor with a crystal ball would have bought a …
Top 10 WA Hotspots Perth's property markets have surged in the early part …
National Top 10 Port Hotspots The Resources Revolution will continue to be a major driver …
Select Your Report
The Northern Territory, seldom considered in a discussion about economic or property prospects , is a national leader in both areas. It has one of the nation’s strongest economies and is ra…
Premium Membership gives you the best of everything hotspotting.com.au has to offer.
New South Wales Newcastle, the No.2 city of New South Wales, continues to be under-rated by proeprty investors, despite its strong economy and solid record of real estate growth. It will continue to …
Over half of Australian home owners plan to buy in the next two years, according to a survey by Mortgage Choice. The 2013 Homeowner Intentions Survey found that 56% intend to buy in the next two year…
The number of borrowers choosing a fixed-rate loan continues to grow, according to national home loan approval figures from Mortgage Choice. Fixed-rate loans were 30.1% of all new loans in May. It&rs…
Hong Kong businessman Tony Fung was in Cairns last week to discuss with local officials and state leaders his plans for a casino-hotel complex, reportedly a $3 billion project. Projects of that scale…
©2012 hotspotting.com.au | Website Terms and Conditions Of Use | Contact
Your Cart