Fixed rate demand

AN increasing proportion of mortgage holders are opting for the security of a fixed rate, 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 per cent of all loans written in January, up from 22.04 per cent in December and 19.51 per cent in November.

“The last time fixed rate demand was this high was back in May 2016,” Mortgage Choice CEO John Flavell said.

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