Some of the best home loans for investors and refinancers in November 2022

The interest rate rises announced following the Reserve Bank of Australia’s (RBA’s) November 2022 meeting have come into effect. While new lending has reportedly plummeted, with the year’s combined rate rises knocking $214k off the average home loan budget, existing homeowners and investors could find themselves in a position to refinance to a mortgage that offers greater value for their financial situation.

The value of a home loan may mean more than just its interest rate. To quickly get an idea of which mortgage offers may provide the most value in your financial situation, you could consider comparing their Real Time Ratings™, which combine their cost and flexibility into a single star rating.

RateCity’s Home Loan Leaderboards rank home loan deals in different categories by their Real Time Ratings™, saving you more time and effort comparing alternative mortgages. The top-ranked home loans may also become eligible for RateCity’s Gold Awards.

Some of the best refinance home loans 

If your variable home loan rate has risen following the 25-point hike in November, it may not be the last time. While Australia’s economy may fare better than some other countries facing economic issues around the world, it’s still likely that interest rates will still rise further as the RBA seeks to tackle inflation. Some lenders are offering home loans with relatively low rates that you could refinance with, though you may want to check whether you’re likely to have enough equity available to qualify for some of the lowest rate offers.

Some of the best 2-year fixed home loans 

Borrowers looking to lock their home loan rate to help keep their mortgage budget under control may struggle to find low-rate deals, with major banks hiking fixed rate offers as well as their variable rates. However, you may still be able to find value elsewhere from one of these home loan deals, with some offering features and benefits such as cashback to help encourage customers.

Some of the best 2-year interest only investor home loans

Property investors feeling the pinch from rising interest rates may have the option available to pay only the interest charges on their mortgage for a limited time. While this could help to manage your cash flow in the short term, it could cost you more in total interest charges over the longer term as you won’t be reducing your principal with each mortgage repayment.

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