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Fixed rate loan demand continues to trend up

Staff Reporter 1 minute read

Fixed rate mortgages grew in popularity in May, with Mortgage Choice recording its third consecutive increase in fixed rate deals – however variable rates still continue to dominate borrower preferences.

Fixed rate loans rose to 7 per cent of all its mortgage approvals during May, Mortgage Choice revealed yesterday, up from 4 per cent in April. It is also the highest level recorded in almost a year.

The figure is still considerably down on the 38 per cent peak recorded in November 2007, Mortgage Choice said.

 

Fixed rate loan demand continues to trend up
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