Fixed Rate Loans, Income Protection popularity rise

The team here at Rate Detective has noticed two very strong trends recently.  The first trend is the huge interest in Fixed Home Loans and the second is the overwhelming response to individuals requesting Income Protection.

I am not surprised there has been a huge interest in Fixed Rate Enquires, especially with news of future RBA rate increases approaching. The majority of home owners are wanting to lock in their current rate to avoid any rate increases.

However, the most interesting trend is the greater need for Income Protection.

The tougher economic climate has seen families reassess their financial security. Although clients are well aware that Income Protection cannot safe guard their income if they are made unemployed involuntary, the norm we are finding amongst Australian Families is the realization that securing their annual income in the event they can no longer return to work due to a severe illness or disability is the number one priority in protecting their family assets.

Happy Saving,

Dave Kaplan.