Floating rates sink

In the month to August 10, 14 of the 18 institutions surveyed by the Real Estate Institute have increased their fixed rates between 0.05 and 0.65%, with most fixed rates raising by 0.25 to 0.35%. The trend in fixed rates reversed from last month, when the majority of fixed rates dropped by 0.25 to 0.35%.

Conversely, floating rates eased by 0.20 to 0.25%, with 15 of the 18 mortgage providers reducing their rate by 0.25%. The current floating rates available range between 6.40 and 7.10%, compared to a range of 6.65 and 7.35% in the 30 days to July 10.

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