In a move that surprised nobody, the Reserve Bank of Australia this week again opted to leave the official cash rate at its record low 0.1%.
Most lenders are now offering between 1.8% and 2.5% on both fixed and variable rate loans, so if you are still paying interest that was set several years ago, it might be worthwhile talking to your broker about refinancing. Remember, though, to take into account any possible exit or application fees, as well as checking comparison and ‘honeymoon’ rates.
