Recent research shows that the gap between the average variable rate and the lowest rate available on Finder was 1.57 percentage points in early March. Similarly, the gap between the average and lowest fixed rates was 1.37 percentage points.
⚠️ Why does this matter?
Even a small difference in your interest rate can add up to tens of thousands of dollars over the life of your mortgage.
✅ For example, if you switched from a 6.50% p.a. interest rate to 6.00% p.a., here’s how much you could potentially save: 💰 $46,359* on a $500,000 loan
💰 $69,538* on a $750,000 loan
💰 $92,717* on a $1,000,000 loan
👉 But remember: Not all loans are created equal. It’s not just about getting the lowest rate — factors like offset accounts, redraw facilities, and eligibility criteria can make a big difference depending on your situation.
📅 When was the last time you reviewed your home loan?
Lenders who were competitive a few years ago may no longer be offering the best rates today. That’s why it’s essential to review your loan every 2-3 years to make sure you’re not paying more than you need to.
💡 Want to explore your options?
I can research the market to find more competitive loans and discuss potential ways to save you money. Let’s see how much you could save!
📩 Message me today to get started!
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💸 Big Gap Between Average and Lowest Variable Rates – Are You Paying Too Much?