Source expert help from your local mortgage broker prior to making an offer on any property; your Loan Market mortgage broker has access to every major bank and secure lender in Australia, and can assist you to find an appropriate home loan.
While there has been a rush of interest from homeowners trying to fix their mortgage rates in the wake of October’s official interest rate rise, one mortgage broker says the numbers just don’t add up.
Australia’s largest independent mortgage broker, Loan Market Group, says it has seen a 30 per cent increase in borrowers looking to switch from a variable rate to a fixed rate mortgage after the Reserve Bank lifted the official cash rate by 25 basis points to 3.25 per cent.
However, borrowers who have done the sums have opted to stick to variable rates, after realising the ...
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Categories: Home Loans and Mortgages. Tags: Fixed Rate Mortgages, Fixed Rates, Mortgage Broker, Variable Mortgage Rates, Variable Rates.
More borrowers are opting to take out fixed rate mortgages with the number of fixed rate loans being sold by banks in June, climbing from an all time low of 1.9 per cent of all loans sold back to about 8 per cent of all loans in June.
The number of fixed rate loans may continue to grow despite most banks increasing their fixed mortgage rates over the last few months.
“On top of speculation that the official cash rate already has bottomed, there's widespread concern that the banks themselves will continue to raise their variable rates independent of the ...
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Categories: Home Loans and Mortgages. Tags: Fixed Rate Loans, Fixed Rate Mortgages, Variable Rates.
