Home / Posts tagged "variable rate loan"

variable rate loan

Variable-rate Loans Scaled to New Heights of Popularity

Posted on by Laze Spasevski
Variable-rate loans scaled to new heights of popularity, as demonstrated by the dramatic shift in borrowing trends. In March 2020, at the start of the pandemic, 13.38% of new borrowers chose fixed-rate loans and 86.62% chose variable. But in March 2024, a staggering low of only 1.40% of new loans were fixed, compared to 98.60% variable. This is based on the report by the Australian Bureau of S...
Read More

Rates are Lower Than Expected

Posted on by Laze Spasevski
Despite the interest rate rises that have occurred since last year, rates are lower than expected. The number one contributing factor to this is the “strong competition between lenders”, according to the Reserve Bank. Between May 2022 and June 2023, the cash rate increased by 4.00 percentage points. But during that same period, the average interest rate for outstanding variable-rate loans in...
Read More
Top