Mini Blog Series: How Small Rate Reductions Can Save You Thousands

Even a small reduction in your mortgage interest rate can make a big difference over time. A 0.50% drop on an average loan could save thousands of dollars each year, depending on your loan balance. For example, on a $700,000 loan, a 0.50% rate reduction could save around $3,500 per year.

Small rate reductions are often available through retention, pricing approvals or refinancing, especially when using a broker who has access to a wider range of lenders.

If you’re curious how a small rate change could impact your repayments, click here to speak with a Complete Home Loans broker about your options.