Interest in Fixed Rate Deals
By Loan Market
Borrowers are most interested in deals on fixed rate home loans as a result of the recent interest rate rises, according to mortgage broker Loan Market.
The number one product brokersare currently receiving enquiries aboutis for three-year fixed rate loans. WhileLoan Market clientsaren’t necessarily going ahead and locking in a new fixed rate loan, they are definitely more active at the moment in seeking the best deal they can obtain.
The second most popular product enquiryis forbasic variable rates and the differences between the various lenders. In additionthere is also a lot of interest in honeymoon variable rates and professional packages.
Loan Market’s message to customers who are considering refinancing is to make sure they are as well informed as possible if they choose this path. There are a number of special deals with limited time periods availablefor new customers -the general public is not always made aware of these - so it’s important to seek expert advice.Currently thereis as much as 1.2 per cent difference between the variable home mortgage rates currently on offer,which can potentiallyamount tothousands of dollars insavings over time.