More people choosing variable home loans

More borrowers are choosing variable home loans over fixed rate home loans. According to a study conducted by Mortgage Choice, fixed rate loans accounted for only 1.7% of all home loan approvals in March 2010. The study also found that standard variable home loans were the most popular choice of home loan, accounting for 49% of all home loan approvals for the month of March 2010.

VIC and QLD were the only states where fixed rate home loan demand increased, but only accounted for less than one percentage point each. The highest demand for a fixed rate loan was in South Australia (2%).

If you need a home loan, speak to the mortgage brokers at Intellichoice today on +61 7 3624 1900. They have access to over 800 home loan products and will find and recommend a home loan to suit your needs.