Variable Interest Rates
Interest rate movements will always have a big impact on your monthly repayments, particularly if you have a variable rate loan. When the Reserve Bank lifts official interest rates by 0.25%, the interest rate rise flows on to variable rate home loans and usually takes the lender's standard variable rates up by roughly same amount. As rate rises will vary from lender to lender it is advisable to conduct a comperehensive analysis both before getting a loan and during the life of your loan. A good mortgage broker can help you assess interest rates across Australia's major banks and other secure lenders.
More information or help
For confidential assistance with your home loan or to talk to your local mortgage broker, call us at any time on 13 LOAN or call our direct line on +61 2 9249 3739.
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