Mortgage Choice data shows fixed rate demand lowest in eight years
June approval data revealed that variable rate demand was highest in Victoria, where 86% of borrowers opted for this type of product. This was followed by South Australia (82%), Western Australia (79%), Queensland (77%) and NSW (76%).
Demand for fixed rate home loans has fallen for the sixth month, with Mortgage Choice data showing fixed rate loans accounted for 21.75 per cent of all loans written in February, down from more than 28 per cent in September 2017.
