The Reserve Bank of Australia (RBA), Australia’s central bank, broke its 11 years of consistency by hiking the interest rate in May 2022. The bank has continued the rise throughout the year to slow down inflation. It has resulted in banks or lenders increasing their interest rates on loans. The mortgage interest rate hike has … Read more
There could be numerous reasons why you might be struggling to repay your loans/mortgages. But there is one solution– refinancing of mortgages. It will help you refinance your existing mortgage sooner. Mostly, loan refinancing shortens the payment term of the loan and lowers the interest rates. Read further to know what refinancing is, the need … Read more
When the Reserve Bank of Australia surges the cash rate, banks and financial institutions follow the hiked rate instantly. As a result, they increase the interest rate charged on the variable rate mortgages. After holding the cash rate at a record low for almost a year, the RBA hiked it in May 2022. The upsurge … Read more