Fewer than one in three Australians know what a comparison rate is, according to new research.CUA's latest National Mortgage Survey found that 43 per cent of people misunderstood what was meant by a comparison rate and 28 per cent admitted they didn't know what the term meant.Comparison rates are mandated in product advertising, following an ASIC formula.CUA also found that 47 per cent of mortgage holders were planning to switch to a fixed rate at some point in the future - up from 37 per cent at the start of the year.Twenty-three per cent said they had switched mortgage provider recently, compared with 14 per cent in January, and 29 per cent said they had considered switching (up from 28 per cent in January).The reason given most often for switching was for a lower interest rate, followed by lower fees and charges.In 26 per cent of cases borrowers said they switched because their lender's rate movements were inconsistent with the Reserve Bank's cash rate changes.