Newspaper article Fraser Coast Chronicle (Hervey Bay, Australia)

Demand for Ongoing Discount Loans at a High; Fixed Rate Loans Also Experience Uptick

Newspaper article Fraser Coast Chronicle (Hervey Bay, Australia)

Demand for Ongoing Discount Loans at a High; Fixed Rate Loans Also Experience Uptick

Article excerpt

NEW HOME loan borrowers are lapping up at an increasing rate the range of ongoing discount products on offer, according to Australia's largest independently-owned mortgage broker.

Every state saw a rise in demand for this loan type during April as it reached a high of 30% of Mortgage Choice's new loan approvals nationally.

This is the strongest appetite seen since the broker began differentiating ongoing discount loans from others in its data reporting six months ago.

The popularity of fixed rate home loans also jumped, to 12% from 10% the month previous, reversing the falling popularity for fixed rates experienced during February and March.

Local Mortgage Choice franchise owner, Peta Short said, C[pounds sterling]Ongoing discount rate home loans have shot ahead to be the number one choice for Mortgage Choice's new customers. They accounted for 30% of our loan approvals in April, jumping five percentage points on March's result.C[yen]

C[pounds sterling]Ongoing discount and fixed rate home loans were the only product types to experience an increase in demand nationally last month. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.