More Australians are Refinancing in Covid19

According to NSW Land and Registry Services, refinancing activity has increased since the onset of COVID19. The big four banks accounted for the majority of refinances with 66.9% of the share.

Refinancing activity surged in May this year and has maintained steady in the months following, even though we are in a period where many Australians are choosing to defer their mortgage repayments.

Overall, the trend is not unsurprising as refinancing is a great method for reducing your outgoing expenses, and easing some financial burden in this difficult time.

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