Save up to $377 a month by switching your home loan | Dollar Saver tip #81
Save: Up to $377
Tip overview
Rates have more than doubled in the last few years.
If you had the average home loan rate of 2.9% back in early 2022 it could be as high as 7.15% now.
What happened? Your lender likely kept raising your rate along with the cash rate, while giving new customers enticing, lower offers.
Did you know?
Right now, you could switch to a rate of 6.01% (or possibly lower). Let's say you had a $500,000 home loan1. Compared to 7.15%, this lower rate would save you $377 a month.
All you have to do is compare and switch.
1. We've assumed a 30-year loan term. The average rate of 2.90% in April 2022 is from the RBA.