Has your lender cut your mortgage interest rate?

40 per cent of lenders have yet to cut their mortgage interest rates in response to the Reserve Bank’s February rate cut.

The Reserve Bank cut official interest rates to 2.25 per cent in February with most lenders passing on all of that cut to their borrowers.

If your lender is not passing on rate cut savings to you, consider shopping around and comparing deals on infochoice.com.au. Switching home loans may be easier and cheaper than you think and the long term savings could be substantial.

Source: Bankheadlines.com.au

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