Catherine Mapusua, head of lending at digital lending and payments provider WLTH, explains refinancing is set to rise in the next coming months with further increases on the horizon off the back of RBA cash rate rises.

“The amount of owners looking to refinance their home loans over the next coming months is expected to increase significantly,” Ms Mapusua told Savings.com.au.

“It is also anticipated that lenders will be looking to offer competitive rates in order to acquire more market share.

“As more owners become aware of their interest rates rising and repayments increasing, it is likely they will be on the lookout for better deals.”

PEXA data revealed that non-major banks grew their net refinance positions in May 2022, whereas major banks saw a decline in net refinanced loans.

Full Article: Savings.com.au