Feature article
To float or fix long (or short)?
Which mortgage type is best in the current market
AI summary
Choosing a mortgage is becoming more complex as the Official Cash Rate (OCR) may be nearing its lowest point. Reserve Bank data shows a growing number of borrowers are now opting for fixed terms longer than one year, reflecting increased market uncertainty.
Borrowers face a trade-off between higher current floating rates for future flexibility and the security of a longer-term fix. The market also sees first home buyers using most low-deposit lending, while new Debt-to-Income (DTI) ratios are creating challenges for some.
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