Is Now the Time to Refinance Your Home Loan?
With inflation trending in the right direction and the Reserve Bank of Australia cutting the cash rate three times in 2025, many homeowners are asking the same question: is now the right time to refinance?
The short answer: it depends on your individual situation and goals. But with sharper lender offers and rates moving, now could be the perfect opportunity to review your options.
Inflation is cooling, rates are shifting
The latest inflation data is promising. The consumer price index (CPI) rose by 2.1% over the 12 months to June, while the trimmed mean inflation sat at 2.7%, well within the RBA’s 2–3% target band and the lowest level since 2021.
Financial markets are currently pricing in a cash rate low of around 2.9% by late 2026. If these projections hold, it suggests the economy can sustain a cash rate close to 3% while keeping inflation in check.
For homeowners in Wollongong and across the Illawarra, that means banks and lenders are under pressure to compete and that competition could work in your favour.
Lender offers are heating up
Following the RBA’s rate cuts, many lenders are rolling out sharper deals to attract borrowers. Refinancing now could give you access to:
More competitive home loan interest rates.
Cashback offers that put money straight back in your pocket.
Home loan features like redraw or offset accounts that help reduce interest and build long-term savings.
As an experienced mortgage broker Wollongong homeowners trust, I can compare these offers for you and ensure you’re not leaving money on the table.
When refinancing makes sense
While timing is important, the bigger question is whether refinancing aligns with your financial goals. You may want to consider it if:
You’ve been with the same lender for years
If you locked in your mortgage at the peak of the rate cycle, chances are you’re paying more than necessary. Refinancing could save you thousands.
Your situation has changed
A new job, a growing family, or shifting priorities? Your home loan should evolve with your life not hold you back.
Debt feels overwhelming
Rolling personal loans or credit card balances into your home loan through debt consolidation can simplify repayments. While this can make life easier, it’s important to understand the long-term costs. That’s where professional advice matters.
You want to unlock your equity
Whether it’s funding a renovation or purchasing an investment property, refinancing can give you access to the equity you’ve built up in your home.
Should you act now or wait?
It’s impossible to predict the exact timing of the RBA’s next move. But what is clear is that lenders are already competing for business and that means opportunities are available today.
At the very least, now is the perfect time to book a home loan health check. By working with some of the leading mortgage brokers in Wollongong, you’ll have someone to crunch the numbers, compare lenders, and guide you through the process.
Ready to review your home loan?
At Haus of Loans, we help homeowners across Wollongong and the Illawarra make smarter refinancing decisions. Whether you’re chasing a better rate, reducing debt, or unlocking equity, we’ll find the right solution for your goals.
Get in touch today and let’s see how much you could save by refinancing.