Podcast Appearances
And now we're going back the other way to the point where so we have February's mortgage lending stats.
This is the last cut of February's numbers.
They do sort of three or four different cuts and different breakdowns.
This is the one relating to what the terms people actually chose.
So about 19% of lending in February was floating.
So down quite a lot from where it used to be.
22% fixed for 12 months.
Going back sort of a year or so, that figure was more like 40%.
So that sort of shift of either going floating or fixing for up to a year, that proportion has really come down.
On the flip side, people fixing longer.
So I think it was something like 55% of new lending in February was fixed for longer than 12 months.
and if you go back um sort of a year or so that was that was down at 10 15 20 so there's been this this flip side or flipping around of it really uh and so um you know definitely fixing out longer the two-year term is is really really popular i've got the stats in front of me i think yeah two years so in february about 31 of lending was fixed for two years
So that's really risen pretty sharply in the past three to four months.
So that's the most popular term.
People make their own decisions about why that would be the case.
I mean, it strikes me as it's got a bit of certainty, a bit of flexibility too.
You're not locking in for too long.
I guess still relatively attractive pricing.
I was looking at mortgage rates the other day and the one year rate,
is still the lowest and it hasn't really changed too much.