Higher interest rates may be causing many Australians to delay buying property, but waiting for rates to fall is not always the safest financial strategy. This article explores how borrowers can navigate a higher-for-longer rate environment and includes a checklist to help review existing mortgages or prepare for a future home loan.
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Interest rates are rising, and the Reserve Bank of Australia (RBA) has hinted that they could stay elevated for longer than expected.

While people who live off their investments, including self-funded retirees, welcome the rise, homebuyers must think about what higher rates will mean for them, especially if those rates stay higher for longer.

Many households put their lifestyles and financial decisions on hold until rates eventually start to come down – notably those who are looking to buy a home.

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This article outlines a range of strategies to assist with navigating the upcoming expiry of a fixed rate home loan period, so that your mortgage continues to be competitive and well-suited to your needs. It closes with a recommendation to seek assistance from a qualified mortgage broker.

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They say all good things must come to an end… and that includes your home loan fixed interest rate period.

If your fixed rate expiry is coming up, you might have started to think about what happens next and what action you need to take.

Or you might be sticking your head in the sand and avoiding the topic entirely. Be warned! The worst thing you can do is take no action at all. {snippet title="Article Subscribe Message"}{/tabs}

Is fixing your home loan interest rate the right move for you? This article explains the implications to be considered before jumping in and fixing your rate. Recommendations to seek professional advice from a mortgage broker are included. {tab title="Introduction"}

Australians have enjoyed record low home loan rates for around a decade now, so for many of us, a mortgage has been a set-and-forget proposition.

Recently though, the Reserve Bank of Australia (RBA) has increased interest rates. This has prompted many borrowers to convert to a fixed rate loan without properly revising their current situation.

A typical mortgage has a variable interest rate which fluctuates up or down with interest rate movements. Accordingly, your payments go up and down too.

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This article discusses the importance of understanding your home loan interest rates and how interest rate changes affect your mortgage. It includes a formula to calculate your home loan repayments and concludes with a recommendation to seek the assistance of a mortgage broker. {tab title="Introduction"}

Buying a home is one of the most significant decisions a person makes. In a modern landscape where the ratio of homeowners to renters decreases, the emphasis on making an informed financial decision like buying a home is amplified.

Even so, most homeowners don’t consider what home loan rates they are paying. A recent survey conducted on 1,000 Australians suggests that 55% of Australians don’t know their mortgage rate.

The financial implications for the homeowner can be detrimental. A homeowner could be paying double the interest with an interest rate increase as low as 2%.{snippet title="Article Subscribe Message"}{/tabs}

Why do banks decide to increase or decrease interest rates and who influences their decision? This article explains as simply as possible what drives interest rates and may assist clients’ with the age-old question: “do I lock in a fixed rate, or opt for a variable rate?

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The Reserve Bank of Australia (RBA) and the major trading banks may play the most visible role in setting interest rates, but in many cases they are being reactive rather than proactive.

A wide range of external factors feed into their decision-making process, including, in no small part, our collective behaviour as investors and savers, borrowers and consumers. Then there’s the rate of inflation and wages growth, foreign currency exchange, the economic health of our trading partners, and the interest rates paid by local banks to borrow money from overseas.

Suddenly it’s not so easy to figure out where interest rates are headed, even in the short term.

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An article that clearly explains the pros and cons of fixed and variable rate loans.

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With so much uncertainty surrounding who now has more control over setting mortgage interest rates - the Reserve Bank or the banks - it is timely to think about your loans and whether they are structured to suit your needs into the future. One of the most obvious considerations for your home mortgage is whether a fixed or variable rate loan is best for you.

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