Refinancing soars as rates remain on hold

Refinancing soars as rates remain on hold

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.

 

Did you find this helpful? Why not share this article?

Advertisement

RateCity

Money Health Newsletter

Subscribe for news, tips and expert opinions to help you make smarter financial decisions

By signing up, you agree to the ratecity.com.au Privacy & Cookies Policy and Terms of Use, Disclaimer & Privacy Policy

Advertisement

Learn more about nonspecific

Can I get a $1,500 payday loan with bad credit?

Yes, it may be possible to get a $1,500 payday loan with bad credit. Some payday lenders give loans to people with bad credit histories if they believe the borrower has the capacity to repay the loan.

Under Australia’s responsible lending rules, lenders aren’t allowed to approve $1,500 payday loans if they don’t believe the borrower can make the repayments.