Interest Rates Are Rising — But You Can Still Save on Your Home Loan

Interest rates are on the move again.  

This week, the Reserve Bank raised interest rates for the first time since 2023 — and for  many borrowers, that means higher home loan repayments are just around the corner.  

How much more will it cost?

That depends on your loan size and rate, but for the average borrower, repayments could  increase by around $100 a month.  

That’s real money. And it hurts — especially when groceries, fuel, insurance and just about  everything else already cost more than they used to.  

But here’s the important part 踘踚踛踜踙 

Rising rates don’t mean you’re powerless. 

In fact, switching to a better home loan is still one of the smartest ways to reduce the impact  of a rate rise.  

Why Reviewing Your Home Loan Matters More Than Ever  

Many borrowers assume their lender automatically gives them the best deal. Unfortunately,  that’s rarely the case.  

Here’s why reviewing — or switching — your home loan could save you thousands: 

1. You might not be on your lender’s lowest rate  

Banks often reserve their sharpest rates for new customers, while existing borrowers quietly  pay more. If you haven’t asked for a rate review recently, chances are you’re not getting the  best deal available.  

2. Another lender could offer a better deal  

The home loan market is competitive — and that works in your favour. Other lenders may  offer lower rates, better features, or more flexible terms that suit your situation better than  your current loan.  

3. Cashback offers can put money back in your pocket  

Several lenders are currently offering cashback incentives worth thousands of dollars for  borrowers who switch. That extra cash could help offset higher repayments, reduce your  balance, or simply give you some breathing room. 

Don’t Let Rate Rises Cost You More Than They Have To  

Rate rises sting — there’s no way around it.  

But staying on the wrong home loan can make the pain even worse.  

If you haven’t reviewed your home loan in the past 12 months, you could be paying more  than necessary — especially in a rising-rate environment.  

The good news?  

You still have options. And you can still save. 

A quick review could reveal:  

• A lower interest rate  
• Cashback offers  
• A loan that works for you — not against you  

Ready to See If You Could Save?  

With rates increasing, now is the time to make sure your home loan is working as hard as  possible.  

A simple review could mean real savings — both now and in the long run.  踰踱踲踳 Get your home loan checked and see what’s possible.