Web searches on rock-bottom home loan rates skyrocketed after RBA rate cut: Finder.com.au

PHOTO: Mortgage rates

Finder.com.au said, following the drop to an unprecedented low of 1.25%, borrowers are acting swiftly to take advantage of low-rate loans. Traffic to home loan deals on Finder jumped by 654% in less than 48 hours since the RBA announced the cash rate cut.

Furthermore, interest in variable rates on Finder grew by 564%, while there’s been a 369% spike in those looking to refinance.

Graham Cooke, insights manager at Finder, said the uptick shows Aussies are becoming increasingly savvy with their finances.

“This historically low rate will open lots of eyes to just how good the current offers are – and that’s the case for variable and fixed rates, alike.

So far, 22 lenders have cut rates following the RBA’s decision and all indications are that more lenders will follow suit in the coming weeks.

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