Lock in Your Rate to be Sure

Jun 22, 2022 4:17:16 PM

Interest rates in Australia are on the way up and understandably that’s a big concern for homeowners. Especially those facing interest rate hikes right before refinancing or settlement. One way to protect against interest rate rises, if you’re preparing to refinance to a new lender or set up a new loan, is to rate lock. Rate locking your fixed interest home loan for a set period of time before your loan application is completed, means you get the interest rate you were offered when you applied rather than what’s available at settlement time.

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Topics: Mortgage Broker, Home Loans, Rate Lock