Good news if your budget’s been feeling the squeeze — mortgage interest charges are finally heading in the right direction.
According to the Australian Bureau of Statistics, mortgage interest costs fell 1.4% in the June quarter and a further 3.8% in the September quarter, supported by three rate cuts earlier this year. After a long stretch of rising costs, this shift is giving borrowers some welcome breathing room.
How borrowers are using the rate drops
People are already taking small steps that make a big difference:
- Rebuilding savings buffers. Even a modest monthly lift can compound quickly.
- Paying extra into the loan. Helpful while rates are finding a new normal.
- Reviewing their mortgage. Some lenders have adjusted faster than others, so the gap between options is widening.
Why this matters now
Even with rates easing, your current loan might still be priced for the old environment. Lenders are shifting sharply, and it’s easy to fall into a “lazy tax” — paying more simply because the loan hasn’t been reviewed.
A quick review can show where you stand
If you’re wondering whether your rate is still competitive, I can take a look and compare your options. You’ll see:
- What staying put looks like
- What renegotiating with your current lender could save you
- What switching might unlock
It’s quick, and it can help you make the most of this new rate cycle.