With the rising fuel, food, and energy prices, consumers are becoming more careful with their spending wherever possible. At Homestar Finance, we aim to help our customers save every bit they can and to manage their repayment increases, by continuing to review the situation with each RBA announcement. We do this by trying to keep our rates as low as possible, for as long as possible.
Following the recent RBA interest rate increase on 7 June, our owner-occupier variable interest rate will move by 0.46% p.a. for new and existing customers. While for investors, our rate will move by 0.50% p.a. This will be effective from 17 June, with new monthly repayments due in August 2022.
“Owing, buying, and investing in property remains the Aussie dream, which is why we are focussed on keeping our rates competitive in the market. This is seen with us not passing on the full 0.75% p.a. RBA increase to date. With funding costs continuing to go up, we are absorbing as much of the additional costs as possible and for as long as we can”, said Andrew Chepul, CEO of Homestar Finance.
“With Aussies looking at ways to save on their household budgets, it often starts with compromising on those little joys in life like a morning coffee or buying fewer treats for the family.
Disclaimer: This article is not intended as legal, financial or investment advice and should not be construed or relied on as such. Before making any commitment of a legal or financial nature you should seek advice from a qualified and registered Australian legal practitioner or financial or investment advisor.