Mortgage Choice expects the Reserve Bank of Australia to cut rates this year, as a spokesperson said more borrowers are choosing variable-rate loans.
“At the beginning of December last year, speculation was rife that the Reserve Bank of Australia could cut the cash rate throughout 2015,” Darnbrough said.
“Ongoing weakness in the Australian and global economy has encouraged some analysts to change their cash rate forecasts to include up to two further rate cuts. While future cash rate cuts are purely speculation at the moment, it would seem the chatter has been enough to encourage more home buyers to take out a variable-rate mortgage.”
Mortgage Choice named Victorians to be the group keenest on variable rates (86%).
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