Aussies keen to refinance home loans

There has recently been a sharp rise in the number of Australian property owners seeking to compare home loans and consider refinancing, it has been observed.

Mortgage Choice has claimed that its customer service centre is presently receiving double the number of borrower requests to talk with a mortgage broker, many of which are from potential refinancers.

Commenting on the trend, Mortgage Choice spokesperson Kristy Sheppard suggested that borrowers can find better deals by doing their research on alternative home loan options.

"At a time like this, it's especially important for borrowers to explore advantages and disadvantages of the many options available to them today before making a concrete decision about refinancing," she said.

"There is a wide range of lenders and loan products in the market, more than most people realise."

The advice comes after the Reserve Bank's 0.25 per cent official rate hike last week, which was followed by increases to the standard variable home loan rates of the Commonwealth Bank and ANZ by 45 and 39 basis points, respectively.

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