Fixed rate home loans at most popular since Global Financial Crisis Dan Billsborough and Elizabeth Campbell at their Ormeau home. Photo: Sarah Marshall Source: News Limited HOME buyers scrambled to lock in low interest rates on their mortgages in the lead up to yesterday's Reserve Bank of Australia decision to keep the cash rate at 2.5 per cent. Fixed rate home loans are at their most popular levels since March 2008, according to Mortgage Choice, which reported the loan type accounted for 30.6 per cent of loans last month. And Queenslanders were the biggest fans with 37.1 per cent of 870 Mortgage Choice customers opting for a fixed rate in November. Mortgage Choice Queensland state manager Ross Hardcastle said home buyers were attracted to historically low fixed interest rates but many suspected they would soon be on the rise. "Consumers can no longer stop the urge to lock in for a few years," he said. (Fixed interest rates) have been coming down for a number of years but now some lenders have tweaked them up slightly. Consumers might see that as a turn of the interest rate cycle. Brisbane unit sales surge by 25 per cent Underground bus and rail to boost property values But despite the increasing popularity of fixed rate home loans, which in Queensland saw a 5.2 per cent jump from October, the majority of mortgages still have variable interest rates. For Ormeau homeowners Elizabeth Campbell and Dan Billsborough the decision to choose a variable loan was based on the control it gave them. Ms Campbell, whose home had previously been fixed at above 8 per cent interest, said she was now saving $1000 each month with a variable rate. "I'd be scared to lock into a fixed rate again," she said. Ms Campbell said she was relieved to hear yesterday's RBA decision to leave the cash rate unchanged until February 2014 and was interested to see what will happen next year.