Sally Tindall

The lowest one on the CanStar database at this present time is 5.63%.

0%.

So really very competitive.

That's for principal and insurance payments though.

And then the lowest investor interest only rates are sitting a little bit higher at about 5.9% or thereabouts.

Yeah, so Laboratories Credit Union is the lowest investor rate on our database at this point in time, or LCU.

So not a credit union that many people have heard of, if any of your listeners.

You are having to shop around among lenders that you might not have heard the names of, but it's worth...

having a look, giving them a call, testing out, you know, their call centre, understanding some reviews online.

A lot of these credit unions, a lot of these non-bank lenders, low-cost lenders, they've been operating in the market for sometimes decades.

So it is worth just understanding whether it's a good fit for your finances.

But if you inherently don't feel comfortable moving your mortgage to a bank that you don't know the name of, haven't heard of them before, know that you can still shop around amongst the major banks and amongst the second tier banks.

They're still pretty competitive in this market, particularly if they think you're a flight risk.

because they're very competitive amongst each other.

They think that you're going to move to one of their competitors.

That's when they really start listening.

Well, this is where the RBA is having these tough conversations because the path is not clear.

for the central bank.

They were getting close to getting the genie back into the bottle and the decisions were getting tougher.

Back in 2022, when they first decided to hike the cash rate from what 0.10 was at, the decisions in front of the RBA were very easy to make.