Will your mortgage company drop its rates?

Wednesday September 3, 2008

Not every mortgage company will drop its rates fully, although some have reportedly lowered rates even more than the rate drop that the RBA has suggested. With news of the RBA deciding it could reasonably lower the target cash rate to 7.00% from 7.25% some mortgage companies have swiftly responded while others are delaying for a little while longer.

If your mortgage company seems to be reluctant to lower its rates, then you may want to consider refinancing. Different mortgage types can vary in how difficult they are to refinance, but if you merely have a variable rate mortgage home loan, then you should be in a reasonable position to refinance. Be sure to read up on mortgage companies using mortgage company profiles and comparison pages before making a decision, and consider consulting a professional financial advisor to discuss your financial situation.

Please visit our comparison page if you would like to compare home loans and mortgages or find a new mortgage company.

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