Fixed rate home loan de­mand stead­ies

The Riverine Herald - Local Real Estate - - LOCALREALESTATE.COM.AU -

New data from in­de­pen­dently-owned mort­gage bro­ker Mort­gage Choice, shows 15.3 per cent of the home loans ap­proved for its cus­tomers in Jan­uary had a fixed in­ter­est rate. This com­pares to 15.2 per cent in De­cem­ber, 11.2 per cent in Novem­ber, 7.7 per cent in Oc­to­ber and 3.7 per cent in Septem­ber. Up­take in­creased for the fourth con­sec­u­tive month in most states, by an av­er­age of 2.2 per­cent­age points, but dropped in Queens­land and West­ern Aus­tralia, by 2.9 and 2.8 per­cent­age points re­spec­tively. Mort­gage Choice com­pany spokesper­son

16 An­nie Court, Moama Agent: River­side Prop­erty Sales, phone 5480 0144 Ex­pand your in­vest­ment port­fo­lio and make your dol­lar work for you with the well-lo­cated prop­erty at 16 An­nie Court, Moama. The three-bed­room brick ve­neer home is in a quiet court lo­ca­tion in Moama. A spacious liv­ing/din­ing room is next to a lovely, light kitchen. The mas­ter bed­room has a walk-in robe and the oth­ers have built-in robes. Ducted evap­o­ra­tive air- Kristy Shep­pard said, ‘‘Aus­tralians’ ap­petite for fixed rate home loans has risen con­sis­tently over the past six months, but that pace slowed right down in Jan­uary.’’ ‘‘One has to ques­tion whether the de­mand for this more con­ser­va­tive loan type has stead­ied now it looks likely that the next cash rate rise has been pushed back to mid-year or later. ‘‘Of all the mort­gage types, on­go­ing dis­count loans, where the in­ter­est rate is dis­counted over the en­tire loan term usu­ally in re­turn for an an­nual fee, ex­pe­ri­enced the big­gest in­crease in de­mand. They ac­counted for 25.3 per cent of our Jan­uary ap­provals, hav­ing con­di­tion­ing, ducted gas heat­ing, dish­washer and gas hot wa­ter unit com­plete the in­side. Out­side, the full length of the back of the ranch-style home is paved and en­closed, al­low­ing for a ter­rific cool re­treat. The back­yard with dou­ble gates in­cludes a gar­den shed. For the in­vestor, the prop­erty is let at $250 a week, and, to the owne­roc­cu­pier, the home will be avail­able with va­cant pos­ses­sion. In­quiries to Donna Clarke at River­side Prop­erty Sales, phone 5480 0144 or 0438 004 565. risen 8.4 per­cent­age points in the last two months.’’ Not­with­stand­ing this trend stan­dard vari­able rate home loans con­tinue to be the favourite, at 30.7 per cent of ap­provals, fol­lowed by the on­go­ing dis­count loan cat­e­gory, which over­took ba­sic vari­able loans at 23.6 per cent of ap­provals to hit sec­ond spot. De­mand for line of credit home loans, of­ten pop­u­lar with in­vestors, dropped a lit­tle to 4.8 per cent of ap­provals from 5.4 per cent the month be­fore, while in­tro­duc­tory rate home loans ac­counted for only 0.2 per cent.

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