Mortgage rates may finally be hitting rock bottom

Despite no rate cuts from the Reserve Bank in 2014, one lender after another has announced cuts to variable mortgage rates.

Some experts now believe variable mortgage rates are at or near their bottom. Fixed rates have also tumbled throughout 2014.

If you paying more than five per cent on your mortgage, it might be time for you to look around and compare deals, because there are hundreds of very low variable and fixed rate mortgage deals now available.

Source: The Adviser