Shift to fixed rates continues
In April 2012, there was $109.8 billion of lending on floating rates. Two years later, that had fallen to $67.4 billion.
That’s down from $70 billion in March.
Fixed lending for April totalled $125.6 billion, still most of that lending, or $64.3 billion, was fixed for rates of less than one year. Another $37.6 billion was fixed for one to two years. Just $2.8 billion is fixed for rates between four and five years.
The value of loans on the shorters terms was largely unchanged between March and April, though, while the number fixed between one and two years increased by $1 billion and the value of loans on two to three year terms increased by more than $1.5 billion.
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