Relationships often start out with plenty of romance, where you are swept off your feet by all that is promised. But just like with any union, your partnership with your bank may see it’s honeymoon stage come to an end.

With the Reserve Bank of Australia making three cuts to the official cash rate in 2019, and another two in March 2020, home loans rates have been tumbling. So if you haven’t taken a look at your home loan rate in a while, now might be as good a time as ever to take things into your own hands and make payday come early by switching to a better home loan deal. 

It may have been over seven years since the RBA last moved the official cash rate upwards, but that doesn't mean Australia's historically low rates will last forever. In fact, the RBA recently publicised its desire to break the streak of rate holds by forecasting a rate lift sometime in the future. 

Australian's have enjoyed some seriously low home loan rates for a long time, but the winds may finally be changing with recent indications from RBA Governor Philip Lowe hinting that a rate rise may finally be on the way. 

When’s the last time you revisited your home loan to see if it’s still competitive? Chances are you may be signed up with an outdated mortgage with a high interest rate and not much flexibility.

Gone are the days when Aussies would only take out a home loan with a big bank, as there are now a great range of online only lenders offering some of the lowest rates in the market, which could potentially save you thousands, if not tens of thousands over the life of the loan.