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Australians rushing to refinance home loans to take advantage of lower lending rates – NEWS.com.au
Australians rushing to refinance home loans to take advantage of lower lending rates
Nearly one in 10 Australian mortgage holders have taken advantage of the record low interest rate environment and are choosing to refinance their existing mortgages. Figures from the Australian Banking Association show 500,000 home loans, or 8 per cent of all mortgages, have been refinanced in the past year.
The data from the peak banking body coincides with monthly loan commitment numbers from the Australian Bureau of Statistics that show new housing finance in September rose 5.9 per cent compared…
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