“We have seen buyers opt for the 3-year fixed, as it gives you enough security in a period where we may then see the rates start to reduce whilst not being locked in for 5 years. Rates have increased dramatically as a lever to reduce inflation, this may continue short-term. But if successful, we could see the rates reduce as quickly as they have risen.”
“In a market where mortgage rates are increasing month-on-month, we have seen demand for 3-5 year fixed rates increase significantly,” said Michael Hunter of Holo. “Clients seek long-term security against future rate increases.