 Refinancing increases
Refinancing your mortgage can seem very attractive when rates are so low, and it seems many Australians are taking advantage of the current conditions.
Aussie Home Loans says the amount of home owners looking to refinance has increased as lower rates tempt many homeowners to seek out a better deal.
"There have been plenty of home owners who have been complacent about their mortgages,'' Aussie founder and executive chairman John Symond said.
"But our figures show that more and more of them are taking advantage of record interest rate lows and are actively seeking out the best deal.''
According to the non-bank lender, refinancing was up from 30.2 per cent to 38.5 per cent of all home loans written in June.
First home buyers looking for loans have fallen from 32 per cent in March to 21.3 per cent in June.
The rush of first home buyers is slowing as the grant boost winds down and investors step back into the market.
Aussie Home Loans boasts the title of being one of Australia's largest non-bank providers of financial services and has a loan book of more than $30 billion.
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