Discount rate mortgages, where the variable rate is reduced over the loan term usually in return for an annual fee, accounted for nearly half of September’s approvals for broker Mortgage Choice . Fixed rates also experienced increased borrower appetite, to 17 per cent of approvals. Company spokesperson Kristy Sheppard said, “The real growth story is ongoing discount rates. In September 2011, this product as a proportion of all Mortgage Choice’s new home loan approvals rose for the tenth successive month, to 45 per cent."Staff reporter

Mirrabooka Investments has advised that its net tangible asset backing as of the end of September was $1.60 a share after tax, down from $1.67 a share at the end of August. Its top three equity holdings are Hastings Diversified Utilities Fund, Campbell Brothers and Iluka Resources. Staff reporter