What you can do now to prepare
No one can say with certainty if we will see a pre-Christmas rate hike.
But it certainly doesn’t hurt to plan ahead.
The first step is to check your current rate.
This gives you a baseline figure to gauge if you are paying more than necessary – regardless of any possible future rate hikes.
As a benchmark, today’s average variable home loan rate is 6.65%.
Close to 50 lenders are currently offering variable home loan rates below 6%.
Not all these loans will be suitable for every borrower.
Even so, it highlights the level of competition in today’s mortgage market – and a benchmark for what’s potentially available.
Why wait for possible future rate hikes?
We can let you know today if you could save by refinancing to a new loan and lender. Or, we could assist with asking your current lender to match what else is out there in the market.
Call us to find out how your current loan shapes up, and whether you may be able to access a more competitive home loan rate or improved loan features.
Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute tax or financial advice, whether general or personal, nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to your circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.
