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PHOTO:\u00a0The average mortgage<\/strong><\/p>\n The average mortgage holder is $127 a month better off after three rate cuts since June, research from RateCity.com.au has found.<\/p>\n The figures are based on a big four customer with a discounted variable rate and a $400,000 loan with 25 years remaining.<\/p>\n If the borrower chose to invest the savings back in to their mortgage by leaving their repayments the same, they would be over $24,000 ahead over the remainder of the mortgage, which would be paid off two years and three months sooner.<\/p>\n Sally Tindall, RateCity research director said, despite no rate cut yesterday, variable mortgage holders have come out in front this year.<\/p>\n \u201cHome owners are very much ahead this year \u2013 our research shows that the average Australian mortgage holder is now saving an estimated $127 a month thanks to the three RBA cuts this year, even though they weren\u2019t passed on in full,\u201d she said.<\/p>\n IMPACT OF THREE RATE CUTS IN 2019 \u2013 AVERAGE MORTGAGE HOLDER<\/strong><\/p>\n $595<\/p>\n<\/td>\n<\/tr>\n 0.75%<\/p>\n<\/td>\n<\/tr>\n 0.57%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n \u201cWhile it\u2019s tempting to spend your money at the shops, putting the money into your mortgage could help you pay it off months, even years earlier.<\/p>\n READ MORE VIA PROPERTY OBSERVER<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n\n\n
\n Estimated savings June to December<\/td>\n \n \n RBA cumulative cuts since June<\/td>\n \n \n Average cumulative cuts from big four banks<\/td>\n \n