A lot has happened in the mortgage market over the last couple of months, with several lenders changing the interest rates and also the conditions for a home loan.
Moving forward, many economists believe rates will continue to be dormant over the next few years, with the Reserve Bank widely expected to retain their current Cash Rate..
As such, now really is the perfect time to review your current financial situation and make sure you are still in the right product for your needs.
Whether you’ve been in your mortgage for a few months or a few years, now is the time to compare lenders and investigate what deals are available.
With some lenders offering fixed rates below 2.5% p.a., you may find that now is the perfect time to fix part or all of your mortgage.
A fixed rate will not only help you to avoid any future rate rises, but it will also provide you with some surety around your regular mortgage repayments.