May 23, 2025 - 20:51
Mortgage broker Jessie Boyce has revealed a strategy that could help borrowers save significantly on their home loans following the recent interest rate cut by the Reserve Bank of Australia (RBA). By leveraging this rate cut, borrowers can potentially reduce their mortgage repayments by thousands of dollars, making a substantial difference in their financial situation.
Boyce emphasizes the importance of reviewing existing mortgage arrangements and considering refinancing options. Many borrowers may not realize that even a small reduction in interest rates can lead to considerable savings over the life of a loan. She suggests that homeowners should shop around for better deals, as different lenders may offer varying rates and terms that could be more favorable.
Additionally, Boyce advises borrowers to assess their current financial circumstances and explore options such as offset accounts or redraw facilities that can further enhance their savings. By taking proactive steps now, homeowners can position themselves to benefit from the current interest rate environment and improve their overall financial health.
