More borrowers taking fixed rates, but caution urged while variable rates dropping

15th of May 2012 | by RateCity Staff

3-year fixed home loan rates now at lowest absolute levels in three years. New ABS data shows highest number of fixed home loans written since May 2008. Borrowers need to focus on the gap with variable: could be $1,600 worse off by fixing if variable rates fall further!

This is an information service. By browsing on the website and/or using our search tools, you are asking RateCity to provide you with information about products from multiple financial institutions. We will try to show you a range of products in response to your request for information. The search results do not include all providers and may not compare all features relevant to you, for further details refer to our FSCG. The rating shown is only one factor to take into account when considering these products. We are not a credit provider, and in giving you product information we are not making any suggestion or recommendation to you about a particular credit product. If you decide to apply for a product, you will deal directly with a financial institution, and not with RateCity. Rates and product information should be confirmed with the relevant financial institution, and you should review the PDS before you decide to purchase. See our terms of use for further details. This advice is general and has not taken into account your objectives, financial situation or needs. Consider whether this advice is right for you.