{"id":21865,"date":"2019-11-06T09:35:19","date_gmt":"2019-11-05T20:35:19","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=21865"},"modified":"2019-11-06T09:35:19","modified_gmt":"2019-11-05T20:35:19","slug":"how-millennial-homeowners-are-cashing-in","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/how-millennial-homeowners-are-cashing-in\/","title":{"rendered":"How Millennial homeowners are cashing in"},"content":{"rendered":"

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PHOTO: Young homeowners are proving to be the savviest of the lot by taking advantage of these favourable market conditions.<\/strong><\/p>\n

Millennial homeowners are cashing in on historically low home loan interest rates and are jumping at the chance to refinance their mortgages.<\/p>\n

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Once labelled the lazy generation, Millennials are shaping up to be a financially savvy bunch.<\/p>\n

According to data from comparison website Finder, 30 per cent of those surveyed aged between 18 and 39 said they would refinance in the next 12 months, effectively shaving tens of thousands of dollars off their mortgages. That is compared to just 2 per cent of Baby Boomers who said they would speak to their lenders.<\/p>\n

Bessie Hassan, money expert at Finder, said those who were towards the beginning of their homeowner\u2019s journey were looking to take advantage of lower interest rates.<\/p>\n

\u201cMillennials get a bad wrap for not being money savvy, but when it comes to considering refinancing their home loan, they\u2019re ahead of the pack \u2014 a smart move considering it\u2019s where the biggest potential savings lie,\u201d she said.<\/p>\n

\u201cA new benchmark is emerging \u2013\u2014 we are seeing more home loan rates that start with \u20182\u2019 than ever before and that\u2019s the case with both variable and fixed loans,\u201d she said.<\/p>\n

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