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 their monthly mortgage repayments. If you fall into this category, you may be wondering how …
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 series of cash rate hikes by the Reserve Bank of Australia (RBA) has left many …
Do you remember dial-up internet access? How about audio cassettes? Don’t worry if you don’t; they are, of course, a thing of the past. A 30-year mortgage with one lender is a bit the same – a thing of the past and something that is largely obsolete nowadays. Especially given the current climate. With the …
With interest rates on the move, many people are shopping around for home loans. In January, the value of external refinancing for total housing fell 2.1%, but remained close to record highs at $18.6 billion. If you’re considering refinancing, it’s a good idea to be aware of a few pitfalls when doing your research. Here are six …
