Borrowers’ uptake of fixed interest rate home loans rose by less than one percent of approvals over August despite lenders introducing large reductions to the cost of their fixed term loans, according to Australia’s largest independently-owned mortgage broker.Fixed rates accounted for 14.1% of Mortgage Choice’s home loan approvals last month, up only slightly from 13.3% [...]

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A week ago experts were warning interest rates were going up. Now lenders are cutting them.Sydney-based banks – Commonwealth, Westpac and St George – led the pack yesterday reducing their interest rates on fixed-term loans.The fixed-term rates offered by these lenders are now well below the average discount variable rates which rise and fall with [...]

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Although most economists still forecast a Reserve Bank interest rate rise this year, markets are pricing in a cut in the official rate, which in turn has led lenders to lower their fixed mortgage rates. Government bond yields in the US, Germany and Australia have been sinking in the past six months as investors, eyeing [...]

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Ongoing discount rate loans still leading the packThe popularity of fixed interest rate home loans hit its highest level in five months in June 2011, reaching 12.3% of all approvals for Australia’s largest independently-owned mortgage broker, Mortgage Choice.Every state apart from SA saw a rise in appetite for fixed rate loans. The largest increase in [...]

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Heated competition in the home loan market, a wider range of variable loan special offers and extended cash rate stability look to be suppressing borrowers’ appetite for fixed rate loans. Demand for such loans has taken a tumble, the first fall since July 2010, as a greater proportion of new borrowers move to take up [...]

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Although the popularity of fixed rate home loans remains higher than the last couple of years, it barely rose as 2011 began. Has the increasing concern among consumers about further rate rises settled?New data from Mortgage Choice, the country’s largest independently-owned mortgage broker, shows 15.3% of the home loans approved for its customers in January [...]

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Australians’ demand for fixed rate home loans has not been this high since May 2008, according to loan approval figures from the country’s largest independently-owned mortgage broker.Mortgage Choice customer data for December 2010 shows the year ended with a bang for fixed interest rates as appetite for such loans increased to a 31-month high. For [...]

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Forget PR-friendly ‘discounts’ from the banks. Better mortgage deals are out there for those who look. Even with the whole country against them, the banks can still pull a swifty.Magnanimous in defeat, ANZ’s decision to end exit fees, never a big money-spinner for the banks anyway, and offer a discounted three-year fixed rate is chutzpah [...]

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The take up of fixed rate home loans more than doubled over October to reach a 27-month high of 7.7% of all new approvals for Mortgage Choice, Australia’s largest independently-owned mortgage broker.This level of demand was well ahead of the national six-month average of 3.7% and the 12-month average of 2.7%.The popularity of this more [...]

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