Can I ask my lender for a lower rate?

Yes, you can absolutely ask your lender for a lower rate if you think your rate is too high. Do your research first to see what other rates are on the market. Then, call your lender to ask them to lower your rate in line with other rates on the market. If they refuse, you can talk to them about refinancing.

What is the best home loan rate right now?

There is no single best home loan rate because different loans suit different borrowers. The lowest rate on the market right now is 4.94%. But the best rate for you will depend on whether you want a fixed or variable interest rate, the features that come with the loan and the amount you want to borrow.

When should I refinance my home loan?

There are a number of reasons to refinance your home loan and so the right time can vary. If you're struggling with the cost of your mortgage repayments and you've been unsuccessful in negotiating a lower rate (but you know they're out there) it might be time to refinance. You might refinance to a lower interest rate or you might refinance to extend your loan term. You also might want to refinance even if you're coping with your repayments. Refinancing can allow you to access more finance with the equity in your home. Or you may want to switch loans to get better loan features, like access to an offset account.