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Refinancing soars as rates remain on hold
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With the cash rate left on hold again at today’s Reserve Bank board meeting, marking 7 months unchanged at 2.5 percent, more Aussie home owners are seeking rate cuts of their own by refinancing, research shows.
A RateCity.com.au analysis of Australian Bureau of Statistics figures shows the number of owner occupiers refinancing their home loans was up by 17 percent to $27 billion in the first half of the 2013-14 financial year.
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