Home owners choose to mix home loans

More mortgage holders are choosing to split their home loans into a mix of fixed and floating rates as rates start to rise following the recent official cash rate increase, say banks.

The Reserve Bank increased the official cash rate from 2.5 per cent to 2.75 per cent after years of keeping it a record low rate.

A trend over the past 12 months towards people fixing their mortgage rates had increased in the last month or so, according to Ian Blair, head of retail banking for Westpac.

More mortgage holders are choosing to split their home loans into a mix of fixed and floating rates as rates start to rise following the recent official cash rate increase, say banks.

The Reserve Bank increased the official cash rate from 2.5 per cent to 2.75 per cent after years of keeping it a record low rate.

A trend over the past 12 months towards people fixing their mortgage rates had increased in the last month or so, according to Ian Blair, head of retail banking for Westpac.

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