There is great news for Australian homeowners. Lenders cut mortgage rates across the country. This is happening two weeks after the RBA’s August cut. NAB, Westpac, and Bendigo Bank have all lowered their rates. This is good news for you. Some of these cuts are as much as 0.41%. This shows that competition is strong among lenders. More banks are jumping on board. This wave of cuts is a direct response to the RBA’s recent decisions. Which Banks Have Cut Rates? NAB has cut rates by 0.25% on many loans. Their new low rate is now 5.69%. Westpac also cut rates by 0.25%. Their most competitive new rate is 5.34% for a popular refinancing loan. Westpac was the last of the big four to act. Bendigo Bank made some of the biggest cuts. They lowered home loan rates by up to 0.41%. This is more than the RBA’s cut. More Lenders Are Cutting Costs Many other lenders also cut their rates. This includes: This shows a strong trend. Lenders are moving quickly to pass on lower rates. How Can You Save Money? This is a great time to check your home loan. You may be able to get a much better rate. A lower rate can save you money. It can also help you pay off your loan faster. The market is very competitive. Our team can help you. We can look at your current loan. We can find a great rate for your needs. We are experts in finding the best deals. Contact EZ Mortgage Broker today for a free chat. We will help you navigate these changes.
Big Four Banks Rate Cut: What It Means For You 💰
The big four banks rate cut is finally here, bringing savings to millions. But some lenders are much faster than others. Learn what this rate cut means for your home loan.
The Real Cost of Lower Mortgage Repayments 💸
New research shows that accepting lower mortgage repayments after a rate cut could cost you thousands. Learn why keeping your repayments the same can save you a fortune and help you pay off your home loan years sooner.
Get More Than One Rate Cut
The RBA has cut rates. But you can save much more money by a mortgage refinance australia. Learn how you could save thousands and pay off your home loan years faster with a better loan.
Mortgage Refinance Australia: It’s Time to Switch
A surge in mortgage refinance australia has hit a new high. This shows that homeowners are acting to save thousands of dollars on their loans. A mortgage broker can help you find the best deal for your home loan.
Mortgage Costs in Melbourne Are Up: How to Protect Your Savings
New data from Canstar shows that Australians have been forced to dip into their savings. This is because mortgage costs in Melbourne and across the country have ballooned. The amount of money lent to borrowers for mortgages went up by a record $17.7 billion in June. This was fueled by the two interest rate cuts in February and May. “The residential mortgage market went into overdrive in June, fueled by the two cash rate cuts in February and May,” said Sally Tindall from Canstar. The big jump in mortgages mirrors the continued rise in property prices. As a result, household savings fell by 0.74 per cent in June. This is the first drop in a year. It’s the biggest fall in over two years. Is This Drop a Big Problem? Sally Tindall says this drop in savings is common this time of year. Many people spend more on end-of-financial-year costs. “Household savings took a hit in June as people tucked into their savings to pay for end-of-financial-year costs,” she said. “However, we expect this dip to be temporary, despite the cost-of-living crunch. Australians remain steadfast in building up their war chests.” Despite this, it’s a good reminder to keep a close eye on your finances. Good News on the Horizon with Inflation Data There is some good news for homeowners. The Australian Bureau of Statistics released data showing that inflation has reached its lowest level since the pandemic. The latest figures for the trimmed mean inflation are 0.6% for the quarter and 2.7% for the year. This brings inflation squarely within the Reserve Bank of Australia’s (RBA) target range of 2% to 3%. This makes another rate cut very likely. The RBA is set to meet on August 12. Many experts are sure they will cut rates again. This could bring welcome relief to your household budget. This potential rate cut is especially important for those with mortgages. It could help ease the pressure on your savings account. Why Your Savings Are Stretched Even as some prices fall, others are still rising fast. Recent data shows some goods are more expensive, while others are cheaper: Prices are up for: Prices are down for: The mixed bag of price changes means that while some costs are falling, essential items like food are still straining household budgets. This highlights why managing your mortgage costs in Melbourne is more important than ever. How EZ MORTGAGE BROKER Can Help You The ups and downs of the mortgage market can be tough to navigate. You want to make sure you are in the best possible position. You want to keep your mortgage costs low. You also want to protect your hard-earned savings. At EZ MORTGAGE BROKER, we understand these challenges. We are here to help homeowners in Melbourne, Tarneit, Wyndham, Hoppers Crossing, Point Cook, Melton, Rockbank, and Werribee. Our goal is to make sure you have the right loan for your needs. We can help you: Don’t wait until your savings are in trouble. Take control of your mortgage costs now. Contact EZ MORTGAGE BROKER today for a free, no-obligation chat. We can help you find a smarter way to manage your mortgage. Phone: 1300 050 099 Email: [email protected]
RBA Rate Decision Today: What a Cut Could Mean for Your Mortgage
The RBA’s interest rate decision is today. Many predict a cut, bringing good news for homeowners. Learn how potential RBA rate cut savings could affect your budget.
Australia’s $1.2 Billion Blind Spot: Are You Missing a Refinance Opportunity?
Could you be one of the over 1.2 million Australian homeowners missing out on significant savings by not refinancing your home loan? With property values on the rise, your Loan-to-Value Ratio (LVR) may have dramatically improved, putting you in a prime position for a better deal.