Will all mortgage companies drop rates?
Tuesday September 2, 2008
Mortgage companies will come under a lot of pressure if they do not lower their interest rates after the RBA decided to lower the official cash rate to 7.00% down from 7.25% previously. As some mortgage companies have been reluctant to commit to passing on savings in case of interest rate drops, many people may consider refinancing.
If you decide to look at other Australian mortgage companies in order to refinance, be sure to use mortgage calculators to ensure that you will end up saving even after the costs of refinancing have been covered.
Please visit our comparison page if you would like to compare home loans and mortgages from many different mortgage companies.
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