April 16, 2014
Cutting 0.50% of your home loan rate could save you nearly $45,000
Recent research from the home loan industry revealed that borrowers are taking the search for lower interest rates into their own hands and no longer waiting for the Reserve Bank to cut interest rates.
Competition for your home loan business in the Perth market is heating up.
Lenders are now offering some of the lowest home loan interest rates that Perth homeowners have ever seen.
This is great news for you if you’re in the market for a new home loan.
If you’ve had a home loan for a few years you’re also in a great position to benefit.
Cut your interest rate by 0.50%
As many of my Perth mortgage customers are finding, if you have an existing home loan there is a great chance that you can find a lower rate in the current environment.
On a loan of $350,000 a rate reduction of just half a percent could save you around $45,000 (assumes the current loan is 5.40% with a 25 year term)
There are many factors to consider when refinancing your current loan
Save money by refinancing