Fixed rate loans popular

DEMAND for fixed rate home loans has hit its highest level in more than 12 months.

According to the latest national home loan approval data from Mortgage Choice, fixed rate home loans accounted for 23.62 per cent of all loans written throughout January — up from 19.44 per cent recorded in December.

Mortgage Choice CEO John Flavell said the jump in demand meant almost one in every four home loans written was now fixed.

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