Refinancing! A recent survey by Mortgage Choice revealed 55% of Australians don't know what interest rate they are paying. This plays into the hands of your current lender. Readers can see the huge array of specials lenders have at present trying to entice your business away from current lender. Fixed rate lending is now at its lowest level for a decade as most fixed rates are uncompetitive against variable options.

Bottom line is - Borrowers have deserted fixed rates down from 20% to 7.7% and highs of 38% of all loans settled during the pandemic, as banks continue to price in anticipated future rates rises.

Refinancing is the action people should at least consider. A 1% saving on a $500,000 loan is $5,000 p/a in your pocket. Refinancing is currently making up 29% of the all loan volumes being processed – 3 out of 10 Australians are looking for a better deal. Of course which option is best for you? That's where we come in - Just reply to this newsletter if you want us to get to work!