As news flows through from lenders following yesterday’s RBA announcement of an increase in the cash rate from 0.10% to 0.35%, and the first increase since November 2010, it has placed further focus on lenders and is the time for people to be start reviewing their lending and overall financial wellbeing if they haven’t already. For a loan of $500,000 loan, this means an increase of $68 per month over a 30yr loan term.

We have already seen in the previous months the slowdown in buying activity as the frenzy levels of 2020 and 2021 subside, but this has put the ball back in the court of buyers for the first time in years. With greater supply and people well equipped and researching, this gives first home buyers and investors a time to get into the market where they have previously felt unable to.

Lenders are also in the market as strong as ever for refinances. The perfect time for people to review their loan with the largest cashback offers and rate concessions I’ve seen in my 15yrs in finance.

Please feel free to reach out and see how I can assist you today, with most refinance enquiries saving year one over $10,000 depending on the loan size, it is costing you every day you don’t do something about it