Feature article
To float or fix long (or short)?
Which mortgage type is best in the current market
AI summary
Deciding on a mortgage rate is increasingly complex. While short-term or floating rates were popular, Reserve Bank data now shows a split, with more borrowers choosing longer-term fixed rates. This uncertainty stems from the Official Cash Rate (OCR) potentially nearing its lowest point.
Borrowers must weigh current costs against long-term certainty. Meanwhile, first home buyers are utilising low-deposit lending, and debt-to-income (DTI) limits are becoming a hurdle for some individuals.
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