Image via gettyimages The global economic crisis that began in 2008 has had a big impact on the real estate market in Australia. A recovering economy caused mortgage interest rates to drop after an initial period of tight lending regulations. More Australians were apt to choose variable rates as interest fell, but the trends in borrowing have started to change. More Australians Opt for Fixed Rates Why are Australians more likely to opt for fixed rates when they apply for a mortgage? Rates were steadily dropping, but it now appears that the historically-low rates that are being offered to home buyers are starting to level out. This means that more people are hoping to lock in the lowest rates possible by opting for a fixed rate.