Keep up-to-date with changes in interest rates by talking to your local mortgage broker about special offers and current interest rates in Australia.
Interest Rates – Variable
If you have a variable interest rate home loan, your home loan repayments are affected by any official interest rate movements. When the Reserve Bankof Australialifts or lowers the official cash rate your variable rate home loan can rise or fall by approximately the same amount.
In recent times banks have raised or lowered their variable interest rates by different amounts so you should talk to your mortgage broker about the most recent changes.
Interest Rates – Fixed
Fixed interest rates ensure that your repayments don’t change during the term that you fix your loan. Fixed rate pricing is generally determined by the bank’s view on future interest rate movements.
Banks and lenders will also occasionally offer fixed rate special offers to attract new business. Fixed rate pricing changes more frequently than variable rates and will often vary significantly between banks.
Lower your monthly home loan repayments and find a better interest rate,talk to a Loan Market mortgage broker today on 13 LOAN (13 5626) or simply fill in the contact form below.