Some of the top-rated home loans for investors and refinancers in August 2023

Strong levels of refinancing have been recently recorded by the Australian Bureau of Statistics (ABS), as homeowners try to manage the impact of a dozen rate rises and the fixed rate cliff. Even the banks are struggling to manage this level of activity, with the big four banks removing most of their cashback offers for refinancers, and ANZ halving their deal. But there are still plenty of alternative home loans options for refinancers that may be worth considering.

According to the ABS, fewer new owner-occupier home loans were recorded over the month of June 2023, but investor lending increased by 2.6% compared to the month before. However, compared to the same time the previous year, owner-occupier and investor lending were down by 20% and 15% respectively as the 12 RBA hikes took their toll. 

Investors looking to manage their cash flow and keep their budget under control may want to compare the available investor home loans to find an option that suits their needs.

RateCity recently found that 59 lenders have increased at least one fixed rate in the last month, while just 9 lenders have cut at least one fixed rate. Borrowers who prefer to keep their mortgage payments consistent could choose to lock in a fixed interest rate. 

Keep in mind that while this could help insulate a borrower from potential future rate hikes (which the RBA has said may still be needed if inflation remains high), borrowers could also potentially miss out on savings from future interest rate cuts, which some banks are forecasting as soon as March 2024.