{"id":5412,"date":"2024-04-18T10:18:28","date_gmt":"2024-04-18T00:18:28","guid":{"rendered":"https:\/\/financialplus.com.au\/?p=5412"},"modified":"2024-04-18T10:18:28","modified_gmt":"2024-04-18T00:18:28","slug":"can-you-remember-your-home-loan-interest-rate","status":"publish","type":"post","link":"https:\/\/financialplus.com.au\/can-you-remember-your-home-loan-interest-rate\/","title":{"rendered":"Can you remember your home loan interest rate?"},"content":{"rendered":"
Where you put your car keys, who won the footy premiership three years back, the new prime minister of New Zealand\u2019s name \u2013 all very much socially acceptable things to forget. Your home loan rate shouldn\u2019t be on that list.<\/strong><\/p>\n It\u2019s a fair bet that your home loan repayments are one of your biggest household expenses.<\/p>\n Yet it\u2019s surprising how many borrowers haven\u2019t kept up with what their home loan rate currently is.<\/p>\n In fact, a new\u00a0report by Mozo<\/a>\u00a0shows that 42% of mortgage holders have no idea what interest rate they\u2019re paying on their home loan.<\/p>\n And it\u2019s an oversight that can cost home owners dearly.<\/p>\n It\u2019s not just that large numbers of borrowers can\u2019t pinpoint their loan rate.<\/p>\n Mozo also found one-in-five home owners have never compared rates since taking out their loan.<\/p>\n Your home loan may have had a competitive rate back in the day, but in a rapidly changing mortgage market, that may no longer be the case. And with the\u00a0cash rate at its highest since late 2011<\/a>, there\u2019s little room for complacency.<\/p>\n For a quick check of how your home loan rate stacks up, head to your latest loan statement to find out what it is. It should show the rate you\u2019re paying. Or call us, and we\u2019ll let you know.<\/p>\nHow does your loan rate shape up?<\/h3>\n