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Which States Lean More Towards Borrowing?

variable rateOut of the 43,963 home loans financed in the month of January, 28% of loans have been sought by borrowers in NSW. Close on their heels are borrowers from VIC, standing at 27%. In an article for the website, Venessa Paech informs us on the borrowing habits of the Australian citizenry.

In terms of average loan size, NSW’s $357,000 was the highest (NSW topping on two counts) followed by ACT’s $341,700 and Western Australia’s $320,300.

Miss Paech talks about the need to be savvy and adds that buyers should be on the prowl while comparing home loan rates and best offers- after all, the gap between the ‘best case’ and the ‘worst case’ on variable rate is as much as 4.5%. It then becomes important that the borrowers press the lenders as much as they possibly can.

You can read the original article here.