​Will interest rate freeze encourage financing?

Font size :
The Reserve Bank of Australia’s recent decision to freeze interest rates not only bodes well for the real estate market, but also for homeowners looking to refinance their properties, reports realestate.com.au.

According to RateCity, this decision may encouragement some homeowners to get a better deal on their home loans, with fixed rates advertised at 3.99 per cent.

Australian Bureau of Statistics data shows that the number of owner-occupiers who refinanced their properties increased by 17 per cent to $27 billion in the first half of the 2013-14 financial year. 

“Borrowers are no longer waiting around for the Reserve Bank to give them a rate cut,” RateCity CEO Alex Parsons said in an interview. “Instead, they are taking the bull by the horns and getting a discount for themselves.”

Unbeknownst to many, even the smallest of cuts can make a big difference to mortgage repayments. Over a 25-year period, a cut of just 1 per cent can save almost $50,000 on the average $300,000 loan.

Whether you are looking to buy your first home, move home, refinance, or invest in property, a mortgage broker can help. Access loans from all the major lenders, get help with paperwork – plus there is no charge for this service. Get help from a local mortgage broker

Mortgage News and Articles

How to tell when a housing market is cooling How to tell when a housing market is cooling

You need to check clearance rates, listings, and the price gap, among other factors Read more

Growing demand for green apartments in Sydney Growing demand for green apartments in Sydney Both owner-occupiers and investors favour eco-friendly buildings for their energy-saving features and reduced environmental footprint ... Read more

Are property investors as rich as they appear? Are property investors as rich as they appear? A multi-property portfolio doesn’t guarantee easy millions ... Read more

Be proactive about getting a better mortgage deal Be proactive about getting a better mortgage deal Apathy could be costing you a considerable amount of money over the lifespan of your loan ... Read more

More mortgage news and articles

Sponsored Links

Monday, Sep 25, 2017
Top Featured Rates
Top Bank Rates

Get help choosing the right home loan

Let us help you find the right home loan for your needs.

Tell us a bit about your circumstances:
  • Purpose of mortgage
  • Household Income
    $
  • How much do you want to borrow?
    $
  • How much deposit do you have?
    $
  • How much is your house worth?
    $
  • How much do you still owe on your mortgage?
    $
  • What type of mortgage do you have?


  • How much is your new home?
    $
  • How much do you want to borrow?
    $
  • How soon do you want a mortgage?
Next
  • First name
  • Last name
  • Where do you live?
  • Phone number

Special Offers

Related Keywords