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What to Do When Your Loan Is Up for Refixing and Rates Are Falling
When your mortgage is coming up for refixing, it’s a chance to evaluate your financial situation and take advantage of what’s happening currently with rates continuing to fall. Lower rates can reduce your monthly repayments, but there are several key steps to consider to make the most of this opportunity.
Interest Rates are Falling: What Kiwi Homeowners Need to Know About Break Fees
With the recent announcement from the Reserve Bank on easing the OCR Banks have responded by reducing interest rates they have on offer that triggers many homeowners to think about refinancing their mortgages to take advantage of the lower rates. While securing a lower interest rate and potentially reducing your monthly payments is attractive, it’s important to understand the potential costs involved, particularly the break fees associated with breaking your existing mortgage.
