Fixed rate mortgages on the rise
Friday December 14, 2007
First home buyers have been taking out fixed-rate home loans as their preferred home loan as the onset of another official interest rates hike is expected February.
There is little doubt that with Australia's continual economic growth forcing the inflation rate to rise, the Reserve Bank of Australia (RBA) will lift official interest rates in February to 7%.
Fixed-rate mortgages have been popular over the last four months by first homeowners and this trend is set to continue into the new year.
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