What is Interest Rate Structure?
Latest home loans news
Record number of Aussies refinance as new home lending plummets
Today’s figures from the ABS show new home lending plunged $2.15 billion in May, the biggest monthly drop ever recorded.
How much could you pay for extending your mortgage freeze?
Australians experiencing financial hardship may welcome the news that the big banks are offering to extend mortgage holidays. But while this could provide welcome relief in the short term, what could freezing your mortgage for longer end up costing you in the longer term?
The interest rate structure of a loan refers to whether the loan has a fixed or variable interest rate. A fixed rate is a rate that is locked in for a certain number of years and will not change during this time. A variable rate will be moved up and down by your lender over the life of your loan to reflect market conditions.