As the property market reels in economic uncertainty, homeowners are taking advantage of record low interest rates and looking for the best refinancing deals from lenders. Data released by CoreLogic shows the volume of mortgage holders looking to refinance rose 42% from the same time last year. Major factors influencing this result is uncertain economic conditions and the current cash rate of 0.25% set by the Reserve Bank of Australia (RBA). The RBA has indicated that the cash rate is going to stay at this level until inflation is in the 2-3% range and we reach full employment levels again.
So, if you have been in the same variable home loan for more than 2 years, and have not negotiated a better deal, then you should look at reviewing your interest rate as soon as possible.
Call iShare Cashback Mortgage Brokers today on 0422126430 and speak to a professional broker who will guide you through the process, and make sure you are getting the right options that suit your particular circumstances.
Or check out our website www.isharebrokers.com.au for more information on our broking services.