The RBA may have hit pause on an April rate cut, but that hasn’t stopped thousands of homeowners from taking action themselves — and refinancing for a better deal. If you’re feeling the pinch, now could be the perfect time to explore your options with FirstPoint.
Australians are acting, not waiting
February’s 0.25% rate cut gave many homeowners hope — and a boost in confidence. Consumer sentiment reached a three-year high.
However, with no further cash rate movement expected until at least 20 May, savvy borrowers are taking things into their own hands. Rather than waiting for the RBA to deliver, they’re refinancing to unlock lower rates now.
A recent Canstar survey shows more than 1 in 2 borrowers (55%) are considering refinancing, and 14% have already made the move in the past 12 months.
Want to know if you could be saving? Contact FirstPoint today for a quick, obligation-free home loan review.
You could be paying a rate that starts with a 5
When was the last time you checked your home loan interest rate?
According to Finder, variable and fixed rates are now at their lowest levels since early 2023, with dozens of options on the market under 6%.
Over 30 lenders are offering variable rates below 5.75% right now. Meanwhile, the average owner-occupier variable rate is still around 6.44% (Mozo).
That’s a clear signal — many borrowers could be paying more than they need to.
Think you might be one of them? Let FirstPoint crunch the numbers and see how much you could save.
Fixed rates are dropping too
It’s not just variable rates on the move. Fixed rates are falling fast.
Mozo reports that 39 lenders cut some or all of their fixed rates in March — with even short-term fixed loans (like one-year options) offering great value.
It might be time to consider whether a fixed loan could give you peace of mind or complement your strategy.
Chat to us — we’ll help you explore the right structure for your goals.
Real savings: over $12,000 in 2 years
Let’s talk figures.
Canstar found that a borrower with a $600,000 loan currently paying 6.86% could save over $12,000 in interest in just two years by refinancing to a 5.74% rate.
Even if your rate is already around 6.06%, refinancing could still save you nearly $3,000 over the same period.
Your exact savings depend on your current loan, lender, and situation — but that’s what we’re here for.
Reach out to FirstPoint today, and we’ll give you a personalised savings snapshot.
Why wait for the RBA?
We’d all welcome lower home loan repayments.
But there’s no need to wait for the Reserve Bank to act. Refinancing now could mean accessing a lower rate, better features, or unlocking equity to fund renovations, investments, or other goals.
So if it’s been a while since your last loan review — or you’ve never refinanced — don’t wait.
Give FirstPoint a call today, and we’ll guide you through your options step by step.
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
