Fixing for one year is very popular at the moment because it currently seems there is little chance of variable rates moving over that time frame.
From the telegraph.co.uk
Companies that can entice users with variable rewards stand a good chance of seeing their users convert into regulars.
From the techcrunch.com
There was a hint of variable bounce that would only add to the Bulls'alarm as they look to push the scoring today to have any chance of defending their title.