ALMOST one in every four mortgages written in August are based on fixed interest rates.
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According to Mortgage Choice’s latest Homeloan Choices data, fixed rates accounted for 24.19 per cent of all home loans written last month – up from 23.82 per cent recorded the month before.
Mortgage Choice spokesperson Jessica Darnbrough attributed demand for fixed rates to lenders trimming the interest on fixed rate home loans.
“Whenever lenders cut their rates, we tend to see a lift in demand for that type of product a few months later,” she said.
