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yeah quite a quite a stark turnaround two and three year fixed rates were really popular in december so that seems to be the term that people are shifting out to not so much going up to those five year loans uh you know it's it's a big call i guess to fix for that that long um but certainly popularity of that two and three year duration so yeah i guess it's um it's as you'd expect as you get towards the bottom of a rate cycle people have been riding that wave down if they can
get to the bottom of that rate cycle pretty clear signal from the reserve being that that's kind of where we are no surprise people start to fix a bit longer again and you know think about trying to avoid that upside risk for for market rates so whenever that happens as we've just talked about it might not be straight away but it's probably coming at some point so yeah not surprising to see people fixing for longer i guess it's something i've been thinking about as a
as a theme for this year.
It's not necessarily... I don't think it necessarily sort of dramatically changes the housing market in either direction, sort of a personal finance thing.
But, yeah, definitely been a theme I've been kind of watching for is when does this shift longer start?
And it seems like we're probably there now, and you'd imagine that this remains in place for a while.
So, yeah, really interesting data.
It's quite stark on a chart.
And keep in mind that the December numbers...
There's going to be a bit of, not volatility necessarily, but, you know, we had, it was just a massive spike in activity.
The banks switching, everyone was just churning loans.
So I guess every cut of these numbers is going to have a wee bit of kind of extra jumpiness in it, I guess, if that's the way of putting it, because there was just so much churn going on.
So, you know, things will probably settle down in the January numbers.
But yeah, definitely that switch to fixing longer seems to be underway.
Yeah, I mean, it was all fairly stable.
We had about 88% of resales made for a gross profit or on the flip side, 12% made for a loss.
The size of those gains and losses as well was fairly stable.
Not really.
I mean, there's always regional differences.
I'm not sure anything really jumped out at me there.