When people call and ask for a mortgage broker at Smartline Rockingham, they ask a lot of questions. We encourage questions so we can get a better idea of your financial situation and how we can help you. When people are thinking about refinancing their home loans, they often wonder if the timing is right.

We can’t say with 100% certainty that now is the right time to refinance but we think you should certainly consider refinancing now if you need the money for a major repair, home extension or other large expenditures. Maybe the interest on your current home loan is higher than you would like. Maybe you just want to get your bills caught up or get rid of high interest debt.

Whatever the case, it would be wise to call a mortgage broker at Smartline Rockingham and at least start the discussion.

Comparison website finder.com.au recently surveyed experts in the finance and real estate fields. One out of three said they expect the RBA cash interest rate to rise this year due to a December rise in the US Federal Reserve Bank interest rate. On the other hand, after the RBA held steady in February, other experts said they expect another lowering of the RBA rate later this year.

What does that tell you? You can’t depend on another rate cut. The rate may be as likely to rise by the end of the year as it is to fall. It will be contingent upon a number of factors.

How to Determine if Now is the Right Time to Refinance Your Mortgage

We would go by the answers to these questions. Do you need the money soon? After we have found you the right rate and terms, are they in line with your needs and expectations? Can we save you enough money to make the transaction worthwhile?

Refinance Your Home Loan with the Help of a Mortgage Broker

Don’t gamble by trying to time the market with your home loan. To learn more or to get started today, call Smartline Rockingham: (08) 9527 1800.