In 2023, the cashback craze was on steroids. Lenders vying for refinancing business were offering sweeteners of $5,000 or more to borrowers who switched over their home loans. However, the wind forwards the clock to 2024 and the landscape is vastly different.[...]
With so much movement on interest rates lately and roughly half of all fixed-rate loans expiring this year, refinancing is on many people’s radars. It’s no wonder. Some of those facing their fixed rate expiry are bracing for a 63 per cent increase in [...]
Are you considering refinancing? You’re not alone. According to the Australian Bureau of Statistics, the value of external refinancing in May 2023 in seasonally adjusted terms rose 8.1% to $21.0b and was 22.4% higher compared to a year ago. Indeed, the [...]
Stuck in an expensive home loan and feeling trapped? You’re not alone. It’s estimated about 16 per cent of households with a mortgage are in a “mortgage prison”, unable to refinance to a more competitive interest rate because they can’t meet [...]
The day you’ve been dreading is looming. You’ve enjoyed a record-low interest rate for a year or more, but now your fixed rate home loan term is ending. Do you, 1) hide under your bed and hope for the best; 2) trust that your current lender will give you [...]
A lot has changed in the past year, especially when it comes to the economy. Interest rates and the cost of living are up, with more rate hikes forecast for 2023 as inflation remains stubbornly high. How long has it been since you looked at the terms of [...]
Experts are warning Australians to brace for more interest rate pain in the year ahead. After the Reserve Bank of Australia (RBA) increased the cash rate to 2.85 per cent in its Melbourne Cup Day meeting, the major banks have adjusted their forecasts for when[...]
If you’re currently playing the waiting game wondering what will happen when your fixed rate term ends, we understand what a stressful time it might be. Fixed rate borrowers have been temporarily shielded from the Reserve Bank’s cash rate increases, but [...]
In the wake of four consecutive cash rate rises, many aspiring homeowners and current mortgage holders have been left feeling uncertain. You may be concerned about whether the cash rate hikes have temporarily derailed your home ownership dreams. Perhaps [...]
With millions of Australian homeowners likely to be slugged with higher mortgage repayments due to the cash rate hikes, there’s one question on everyone’s lips. Is now a good time to refinance? While it depends largely on your individual situation [...]
