๐๐ฟ๐ผ๐ธ๐ฒ๐ฟ๐ ๐๐ฒ๐น๐ฝ๐ถ๐ป๐ด ๐๐ผ๐ฟ๐ฟ๐ผ๐๐ฒ๐ฟ๐ ๐ฆ๐๐ถ๐๐ฐ๐ต ๐๐ผ ๐๐ผ๐๐ฒ๐ฟ ๐ฅ๐ฎ๐๐ฒ๐
Refinancing activity is at close to record levels, with many borrowers switching to lower-rate home loans in a bid to counteract the effect of interest rate rises.
Borrowers refinanced $20.2 billion of home loans in June, according to the Australian Bureau of Statistics, which was the third-highest monthly total in history.
To illustrate just how much refinancing is occurring right now, the June total was almost double the average ($11.0 billion) over the past decade.
Lenders are hungry for business, so they often charge lower interest rates to refinancers than existing customers.
If itโs been at least two years since you took out your home loan, contact a mortgage broker. You might be surprised to discover just how much you could save by refinancing.
Subiaco finance brokers are here to help
Interest rate rises are here, but you donโt have to fear with the right broker on your side.
The team at Sonam Capital are here to empower you through financial knowledge. Weโll take the time to get to know you and your unique situation and speak in a language you can understand, with strategies you can implement for the best possible outcomes.
Nick, Wayne and Amanda at Sonam Capital are your Subiaco finance specialists.
