The best April interest rates for home and auto loans


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Are you up against FOMO when it comes to interest rates? No one would blame you – with the Reserve Bank of Australia (RBA) keep the nation’s cash rate on hold again, and banks eager to attract new customers after the recession, interest rates continue to fall in the mortgage and personal loan markets. This cheaper loan would lead to a surge in property sales and an increase in house prices.

How to lock in a low mortgage rate

Some of the lowest interest rates currently offered on home loans are for fixed rate mortgages, where the interest you will pay is fixed for a predetermined number of years. This can help you keep your repayments constant for a limited time – even if variable interest rates increase during the fixed rate period, you will continue to pay the same low rate until the fixed term expires and until the fixed term expires. ” that the mortgage reverts to a variable rate.

Keep in mind that while some banks have cut fixed rates to two and three years, others have four-year fixed rate increase at a time. This may be in part due to the RBA’s plans to maintain the cash rate until 2024, when the RBA term finance facility is also due to expire. With an increase in cash rates likely to occur while there is likely to be less support available for banks to provide cheaper loans, mortgage lenders can plan ahead for potential future variable rate increases.

Source: RateCity.com.au, data correct as of 09.04.2021.

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There are several ways refinancing could help you save money

If you already own a home, you may have thought about refinancing one of these high-profile low rates. This could help you save money on your mortgage payments or pay off your home a little faster so you can pay less total interest on the property.

But you may also be able to save a little money in a different way when you refinance your mortgage. RateCity research found you may receive more value of some mortgage repayment offers than what you would pay in upfront fees and refinancing fees, saving you money early on on your new mortgage.

Source: RateCity.com.au, data correct as of 09.04.2021.

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Credit cards to help you start stealing frequently

With the New Zealand / Australia travel bubble ready to go and new international travel options that may open up in the future, you might be curious as to which credit cards could offer you bonus reward points though. you register today. Additionally, some credit cards may offer additional travel benefits, such as free travel insurance when you book your flights and accommodation on the card.

Keep in mind that the credit cards that offer the most generous signup bonus and rewards programs may not always have the lowest interest rates or fees, and you may need to complete them. general conditions for receiving the maximum bonus points. Think about which credit card options are best for your financial situation before signing on dotted lines.

Source: RateCity.com.au, data correct as of 09.04.2021.

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Auto loans for road trips

If you’d rather take your next big vacation highway, it may be good to do so with a new set of wheels. Or at least a used wheel set that still performs well, is affordable, and easy to maintain.

With the help of a car loan, you may be able to leave in a vehicle of your choice. A low interest car loan can give you more affordable repayments, while other features and benefits of the car loan can also provide additional flexibility depending on your financial situation.

Source: RateCity.com.au, data correct as of 09.04.2021.

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