It’s been a big year for refinancing across Australia. More homeowners than ever are taking the opportunity to switch lenders and secure a sharper deal on their home loan.
According to the Australian Bureau of Statistics (ABS), the number of mortgages refinanced with external lenders rose by 0.8% in the June 2025 quarter compared to March, and a huge 20.9% compared to the same time last year.
This refinancing boom followed the Reserve Bank of Australia’s rate cuts in February and May, which prompted many banks and lenders to drop their home loan rates. For everyday Australians, it’s been the perfect chance to cut down repayments, lock in a better rate, or access some of their home equity for renovations, investments, or other financial goals.
Why So Many Australians Are Refinancing?
With household budgets feeling the squeeze and cost-of-living pressures continuing, many families are looking for ways to make their money go further. Refinancing can often reduce repayments by hundreds of dollars a month — savings that can make a real difference to day-to-day life.
It’s also an opportunity to review your current loan and make sure it still suits your needs. A new lender might offer helpful features like an offset account, redraw facility, or more flexible repayment options.
Things to Keep in Mind:
While refinancing can be a great move, it’s not something to rush into. Here are a few things to think about before making the switch:
Look beyond the rate. Lower interest rates are attractive, but make sure you check fees, features, and any costs to exit your current loan.
Understand each lender’s rules. Every bank and lender has its own credit policies, which can affect your borrowing power.
Consider your long-term plans. The cheapest loan today might not be the best fit for your goals over the next few years.
We’re Here to Help!
As a family-owned mortgage broking team, we know how important it is to get the right loan — not just the lowest rate. We take the time to understand your goals, compare options across multiple lenders, and guide you through the process from start to finish.
If you’re thinking about refinancing, let’s have a chat. We’ll help you crunch the numbers, explain your options clearly, and make sure your new loan genuinely works for you and your family.
