Borrowers fixed on low rates and discounts loans

Fixed rate mortgages steady in November Demand for fixed rate loans doubled over the past year, peaking in November and reaching its highest level since April 2008, national loan approval data from Mortgage Choice has revealed. This type of loan accounted for 20% of all new loan approvals during November, up on the six-month average of 16%, the 12-month average of 14% and this period last year when only 11% of new loans were fixed rate loans. Ongoing discount rate