Refinancing Your Mortgage in Australia: Complete Guide 2026

Most Australian mortgage holders are paying more than they need to — sometimes significantly more.

The average variable home loan rate in Australia is currently 6.84%, according to Finder's June 2026 database. The lowest available refinance rate on the market is 5.35%. On the average Australian home loan balance of $736,259, switching from the average rate to the lowest available would save approximately $8,496 per year — or $708 every month.

That gap exists because Australian lenders consistently offer better rates to new customers than to existing ones. The RBA has documented this "loyalty tax" at 0.40% to 1.00% for existing borrowers. In a rising rate environment where the cash rate has increased three times in 2026 to reach 4.35%, the gap between what staying put costs and what switching saves has become one of the most significant financial levers available to Australian homeowners.

This guide explains everything you need to know to make a well-informed refinancing decision: when refinancing makes sense, how to calculate your actual saving with real numbers, how break costs on fixed loans are calculated, what cashback offers are currently available, the exact step-by-step refinancing process, and the most common mistakes that cost borrowers thousands.

Use the Dolaro mortgage calculator to run the numbers on your specific balance, rate, and target rate before you start.

What Refinancing Actually Is — and the Two Ways It Happens

Refinancing means replacing your existing home loan with a new one — either with the same lender or with a different lender.

Internal refinance (same lender): You switch to a different product within your existing lender's range — usually from a standard variable rate to a lower-rate product, or from one fixed rate to another. No change of lender, no discharge and re-registration, and typically lower administrative costs. The rate improvement is usually smaller than switching lenders outright.

External refinance (new lender): A new lender pays out your existing loan and you begin making repayments on the new loan. This typically produces the largest rate saving but involves more paperwork, a new credit assessment, a property valuation, and legal/administrative costs.

In 2026, two distinct refinancing motivations are driving record application volumes: borrowers seeking to fix their rate for certainty as variable rates continue to rise, and borrowers consolidating high-interest personal debt and credit card balances into their mortgage at a lower rate to reduce monthly cash flow pressure.

When Does Refinancing Make Financial Sense?

Refinancing is not always the right decision. Before proceeding, assess whether your specific situation clears the financial threshold.

The Rate Gap Test

The most fundamental question: how large is the gap between your current rate and the best available rate for a borrower with your profile?

As a rule of thumb, a rate differential of 0.50% or more on a substantial loan balance typically justifies refinancing after accounting for switching costs. On a $700,000 loan, a 0.50% rate reduction saves approximately $3,500 per year in interest. On a $400,000 loan with the same gap, the annual saving is approximately $2,000.

Rate gaps below 0.40% on smaller loan balances may still be worth pursuing if costs are minimal (particularly an internal refinance where fees are lower), but the break-even period extends and the case is less compelling.

The Break-Even Calculation

Before refinancing, calculate how long it takes to recover the switching costs from your monthly saving.

Break-even period = Total switching costs ÷ Monthly repayment saving

If switching costs are $1,650 and the monthly saving is $405, break-even occurs in approximately 4.1 months. If break-even is under 18 months and you intend to stay in the property, refinancing is almost always financially worthwhile.

If break-even exceeds 24 months, examine the assumptions carefully — either the costs are higher than typical, the rate gap is smaller than it appears after comparing true comparison rates, or both.

Equity Check: LVR and LMI Risk

Refinancing into a new loan triggers a new LVR assessment. If your property value has declined since you purchased, or if you have not yet reached 20% equity in the property, you may face Lenders Mortgage Insurance (LMI) again from the new lender.

Check your current estimated equity position before applying. Most lenders will conduct an automated valuation as part of the refinancing process — if the result puts your LVR above 80%, LMI costs can easily exceed the interest saving from the refinance.

Situations Where Refinancing Makes Strong Financial Sense

Your current rate is 0.50% or more above the best comparable available rate
You have been with the same lender for more than 3 years without a rate review
Your current loan lacks an offset account and you carry significant savings
Your circumstances have improved (higher income, higher equity, stronger credit history) since your original application, qualifying you for better rates
You have a debt consolidation opportunity where high-rate personal debt can be absorbed into a much lower mortgage rate
Your fixed rate term is ending and you have not yet compared the variable rate you will revert to

Situations Where Refinancing May Not Make Sense

You are within a fixed rate term with significant break costs that exceed the potential saving (see the break costs section below)
You plan to sell the property within 12 months — not enough time to recover switching costs
Your LVR is above 80% and a new valuation could trigger LMI
Your credit profile has materially worsened since your original loan (new defaults, reduced income)
The proposed new loan has an attractive upfront rate but a high revert rate after a promotional period — calculate the total cost over the expected loan life, not just year one

Worked Example: How Much Could You Actually Save?

Here is a complete refinancing savings calculation using realistic 2026 figures.

David's Current Position

Age: 38
Remaining loan balance: $650,000
Remaining loan term: 24 years (288 months)
Current interest rate: 7.10% per annum (he has not negotiated since fixing two years ago; he is now on the standard variable revert rate)
Current lender: Major bank

Step 1: Calculate Current Monthly Repayment and Total Interest

Monthly rate: 7.10% ÷ 12 = 0.5917%

Standard repayment formula: M = P × [r(1+r)^n] / [(1+r)^n − 1]

(1.005917)^288 = 5.4698
M = 650,000 × [0.005917 × 5.4698] / [5.4698 − 1]
M = 650,000 × 0.032365 / 4.4698
M = $4,705 per month

Total remaining repayments: $4,705 × 288 = $1,354,938

Total remaining interest: $1,354,938 − $650,000 = $704,938

Step 2: Calculate Repayment at New Rate

David has been offered a refinance rate of 6.09% per annum from a competitive online lender.

Monthly rate: 6.09% ÷ 12 = 0.5075%

(1.005075)^288 = 4.2963
M = 650,000 × [0.005075 × 4.2963] / [4.2963 − 1]
M = 650,000 × 0.021804 / 3.2963
M = $4,300 per month

Total remaining repayments: $4,300 × 288 = $1,238,322

Total remaining interest: $1,238,322 − $650,000 = $588,322

Step 3: Calculate the Saving

	Current loan (7.10%)	New loan (6.09%)	Difference
Monthly repayment	$4,705	$4,300	$405 less/month
Annual saving	—	—	$4,860/year
Remaining interest	$704,938	$588,322	$116,616 saved

Step 4: Calculate Switching Costs and Break-Even

Typical refinancing costs for an external refinance in 2026:

Cost	Amount
Discharge fee (existing lender)	$350
Application / establishment fee (new lender)	$300
Conveyancing / legal fees	$800
Property valuation	$200
Total switching costs	$1,650

Break-even period: $1,650 ÷ $405 = 4.1 months

David recovers his full switching costs in just over 4 months, after which every $405 monthly saving is pure gain. Over the remaining 24-year term, the total interest saving of $116,616 dwarfs the $1,650 switching cost by a factor of 70.

David's lender also has a $3,000 cashback offer for refinancers with an LVR of 80% or less. David's property is valued at $1,050,000 and his balance is $650,000 — LVR of 62%. He qualifies for the cashback, which means his effective switching cost is:

$1,650 − $3,000 cashback = net gain of $1,350 from day one, before the ongoing monthly saving even begins.

Use the Dolaro mortgage calculator to model your own balance, current rate, and target rate and see your personalised saving.

Break Costs on Fixed Rate Loans — The Number That Catches People Out

If your home loan is currently on a fixed rate and you want to refinance before the fixed term ends, you will almost certainly face a break cost (also called a break fee or early repayment cost). This is one of the most significant financial considerations in the refinancing decision.

What Break Costs Are and How They Work

Break costs compensate your lender for the financial loss they incur when you repay a fixed rate loan early. When a lender offers you a fixed rate, they fund that loan through wholesale money markets at a matching term. If you exit early and wholesale rates have since fallen, the lender is stuck redeploying your repaid funds at a lower rate — and the break cost covers that loss.

The simplified formula:

Break cost ≈ Loan balance × Remaining fixed term (years) × (Fixed rate − Current wholesale rate)

This means break costs are:

Higher when wholesale rates have fallen since you fixed (the most common scenario when rate cuts have occurred)
Higher with longer remaining fixed terms
Higher on larger loan balances
Lower or zero when wholesale rates have risen since you fixed — because the bank is not losing money on the redeployment

What Break Costs Typically Look Like in 2026

In the current environment, where the RBA has been hiking rates in 2026 after cutting in 2025, break costs for borrowers who fixed in the low-rate period of 2020–2022 and are still within their term can be substantial — potentially $10,000 to $50,000 or more on large loans with long remaining terms.

For borrowers whose fixed terms expired in 2025 or early 2026 and are now on a revert variable rate, break costs are zero — they are on a variable rate and can refinance freely.

For borrowers who fixed more recently in 2025 or 2026 at higher rates: if wholesale rates have risen since fixing (which is possible in the current hiking cycle), break costs may be minimal or zero.

How to Find Out Your Break Cost

There is no reliable way to calculate your break cost without contacting your lender directly. Each lender uses its own proprietary formula based on its internal wholesale funding costs, which change daily. When you request a break cost quote:

Most lenders provide a formal quote within 1–2 business days
Quotes are typically valid for 5 business days only because wholesale rates change daily
The quote is the only reliable figure — online calculators provide rough estimates only

Request a break cost quote before making any refinancing decision. The quote is free and non-binding. It is the single most important piece of information for any fixed rate borrower considering a switch.

The Break Cost Decision Framework

Once you have your break cost quote, the decision is straightforward:

Step 1: Calculate your monthly saving from refinancing (as in the worked example above).

Step 2: Add the break cost to your other switching costs to calculate total cost.

Step 3: Divide total cost by monthly saving = break-even period in months.

Example where breaking is not worth it:

Break cost: $25,000
Other switching costs: $1,650
Monthly saving: $450
Break-even: $26,650 ÷ $450 = 59 months (4.9 years)
If only 18 months of fixed term remain: wait it out

Example where breaking may make sense:

Break cost: $3,500
Other switching costs: $1,650
Monthly saving: $600
Break-even: $5,150 ÷ $600 = 8.6 months
Remaining term: 2 years → net saving = ($600 × 24) − $5,150 = $9,250

Fixed Rate Extra Repayment Caps (Related Issue)

While still in a fixed rate term, most lenders cap extra repayments to avoid triggering break costs. Typical caps: CBA $10,000/year; NAB $20,000/term; Westpac $30,000/term; ANZ $5,000/year or 5% of original loan (whichever is less). Exceeding these caps can itself trigger break cost penalties, separate from a full refinancing.

Cashback Offers: What They Are Worth and What to Watch

Cashback offers are upfront cash incentives lenders use to attract refinancers. In June 2026, lenders are offering cashbacks of up to $10,000, with the most common offers clustering around $2,000 to $4,000 for standard loan sizes.

Current Market Cashback Landscape (June 2026)

Lender	Cashback amount	Minimum loan size	LVR requirement
Reduce Home Loans	$2,000 – $10,000 (tiered)	$250,000	≤80%
Greater Bank / Newcastle Permanent	$3,000	$300,000	≤80%
IMB Bank	$2,000 – $4,000 (tiered)	$250,000	≤80%
ME Bank	$2,000 – $3,000	$250,000	≤80%
Various non-bank lenders	$1,500 – $3,000	$300,000	≤80%

Source: Money.com.au cashback comparison, Canstar, June 2026. Cashback offers change frequently — always verify current availability, conditions, and expiry dates directly with the lender before applying.

How to Evaluate a Cashback Offer Correctly

A $3,000 cashback sounds attractive. Whether it is actually a good deal depends entirely on the interest rate the cashback-offering lender is charging.

The cashback trap: A lender offering a $3,000 cashback at 6.49% is frequently a worse deal than a lender offering no cashback at 6.09%. On a $650,000 loan over 24 years, that 0.40% rate difference costs approximately $40,000 in additional interest — far more than the $3,000 upfront.

The correct evaluation method:

Find the total cost of the cashback loan over your intended holding period (monthly repayment × months, minus cashback)
Find the total cost of the lowest-rate loan available to you over the same period
Compare — the cashback loan is only better if total cost including all fees and cashback is lower

Most cashback offers are most valuable when the underlying loan rate is also competitive. If the best available rate happens to come with a cashback offer, this is genuine value. If you are accepting a higher rate to get the cashback, run the numbers carefully.

Other conditions to check:

Minimum loan amount and LVR requirements (most require ≤80% LVR)
Clawback period — most cashback offers require you to stay with the lender for 2–3 years; leaving early means repaying the cashback
Whether the cashback is paid to your loan account (reducing balance) or to a transaction account (accessible immediately)
Application and settlement deadlines

The Step-by-Step Refinancing Process

Refinancing is more straightforward than most borrowers expect. The process from decision to settlement typically takes 4 to 8 weeks.

Step 1: Know Your Current Position (Week 0)

Before approaching any lender, gather:

Your current interest rate (check your most recent statement or lender app)
Your outstanding loan balance
Your remaining loan term
Your property's estimated current value (use recent comparable sales in your area as a rough guide)
Your calculated LVR: outstanding balance ÷ property value × 100
If on a fixed rate: your break cost quote from your current lender

Step 2: Identify Your Target Rate and Lender (Week 0–1)

Compare rates across the market for your profile:

Use rate comparison sites (Canstar, Finder, Money.com.au) filtered to your LVR and borrower type
Focus on the comparison rate, not just the advertised rate
Identify the top 3–5 candidates with their rates, fees, offset account availability, and any cashback offers
Shortlist the lender offering the best outcome for your specific circumstances

Step 3: Try Your Current Lender First (Week 1)

Before formally applying to a new lender, call your existing lender and ask for a rate review.

Research by Money.com.au found that 72% of refinancers were offered a better deal by their existing lender when they made it clear they were prepared to switch. The approach that works:

Tell them you are comparing the market and have found offers at X% (cite a specific rate you genuinely have in front of you)
Ask specifically: "Can you match or beat this rate on my existing loan?"
If yes and the rate improvement is sufficient, an internal refinance avoids most switching costs
If no or the improvement is insufficient, proceed with the external refinance

Step 4: Gather Your Documents (Week 1–2)

A standard refinancing application requires:

Identification: Passport or driver's licence
Income verification: Most recent payslips (usually last 2–3); most recent tax return if self-employed; most recent PAYG payment summary
Asset and liability overview: Bank statements (typically last 3–6 months); current loan statements; other property ownership documents if relevant
Property information: Current property address; council rates notice; body corporate fees (if applicable for apartments)

Having these ready before submitting the application accelerates processing significantly.

Step 5: Submit the Application (Week 2)

Submit a formal application with your chosen lender. The application will include:

A credit assessment (the lender performs a credit file check — this is a "hard" enquiry that appears on your credit file)
Income and expense verification against the lender's serviceability criteria
Property valuation — usually automated (AVM) for standard LVRs; occasionally a full valuation for higher LVRs or unusual properties

Most lenders provide a conditional approval within 1–5 business days for straightforward applications.

Important: Do not apply to multiple lenders simultaneously. Each formal application generates a hard credit enquiry. Multiple enquiries in a short period can signal financial stress to lenders and may affect your credit score and approval odds. Identify your preferred lender and apply to one at a time. A mortgage broker can assess your eligibility across multiple lenders with a single credit enquiry.

Step 6: Receive Formal Approval and Review Documents (Week 3–4)

Upon formal approval, the lender issues:

A Loan Offer document setting out the terms, rate, fees, and conditions
A Mortgage document for the new security interest over your property
Instructions for the settlement process

Review all documents carefully before signing. Pay particular attention to:

The advertised interest rate and comparison rate
All fees (application, ongoing, discharge)
The revert rate (the rate that applies after any introductory period expires)
The break fee policy for any fixed rate component
Clawback conditions on any cashback

Step 7: Legal Settlement (Week 4–8)

Your conveyancer or solicitor:

Arranges the discharge of the existing mortgage with your old lender
Registers the new mortgage with the new lender on the property title
Coordinates the funds transfer (the new lender pays out the old lender)

Settlement typically takes 2–4 weeks after formal approval. You can use your existing conveyancer or solicitor, or the new lender may recommend one. Costs are typically $500 to $1,200 for conveyancing.

Step 8: Confirm and Set Up (Settlement day)

On settlement day:

Confirm the old loan is discharged (your previous lender will provide a discharge confirmation)
Confirm the new loan balance and rate in your new lender's app or internet banking
Set up repayments — confirm the automatic repayment schedule with your new lender
If you had an offset account with your old lender, transfer the balance to your new offset account
If you plan to make extra repayments on the new loan, set up the recurring transfer (see the Dolaro mortgage calculator to optimise the amount)

Seven Mistakes That Cost Refinancers Thousands

Mistake 1: Only Looking at the Interest Rate, Not the Comparison Rate

A loan advertised at 6.09% with $600 in annual fees may cost more over five years than a loan at 6.19% with no fees. Always compare the total cost — rate plus all fees — across your expected holding period. The comparison rate is an imperfect but useful starting indicator.

Mistake 2: Not Requesting a Break Cost Quote Before Deciding

Borrowers on fixed rates sometimes discover a break cost of $15,000 to $40,000 only after they have committed emotionally to refinancing. The break cost quote is free, takes two days, and is the only reliable figure. Get it first, before you compare lenders or calculate savings.

Mistake 3: Resetting the Loan Term to 30 Years

When a borrower with 22 years remaining on their current loan refinances to a new 30-year term, they may reduce their monthly repayment but dramatically increase total interest paid. Always refinance into the same remaining term or shorter — not back to 30 years. If your current loan has 22 years remaining, the new loan term should be 22 years.

Example of the mistake: Refinancing a $600,000 balance with 20 years remaining at 6.50% to a new 30-year loan at 6.09%. The monthly saving looks attractive, but 10 extra years of repayments at 6.09% adds approximately $178,000 in total interest paid versus keeping the original 20-year term.

Mistake 4: Choosing a Cashback Offer Over a Lower Rate

A $3,000 cashback from a lender at 6.49% versus a comparable loan at 6.09% (no cashback) on a $650,000 balance over 20 years costs approximately $35,000 more in interest — for a $3,000 upfront payment. Always model the total cost.

Mistake 5: Not Negotiating With Your Current Lender First

As noted above, 72% of refinancers who negotiated got a better deal without switching. If your current lender matches the best available rate, an internal refinance saves $1,000 to $1,500 in switching costs and 4–8 weeks of process. Always call first.

Mistake 6: Making Multiple Credit Applications

Each formal home loan application creates a hard enquiry on your credit file. Three or four applications in rapid succession — even to lenders you are just exploring — can reduce your credit score and make some lenders more cautious. Use a mortgage broker (single enquiry) or be deliberate about which lender you formally apply to first.

Mistake 7: Forgetting the Clawback on Cashback Offers

Most cashback offers require a holding period of 2–3 years. If you sell the property or refinance again before the clawback period expires, you may be required to repay the cashback in full. Calculate the net saving accounting for the possibility of selling or refinancing before the clawback period ends.

Refinancing and Debt Consolidation: The Opportunity and the Risk

One of the two primary refinancing motivations in 2026 is debt consolidation — using the lower mortgage rate to absorb higher-interest personal debts. The logic is straightforward:

Personal loan rate: 12–15% per annum
Credit card rate: 19–22% per annum
Mortgage rate: 6–7% per annum

Rolling $30,000 in personal debt at 15% into a mortgage at 6.09% reduces the interest rate by approximately 9 percentage points. The immediate cash flow relief can be substantial.

The critical caveat: Consumer debt eliminated in three to five years becomes mortgage debt potentially extended to 20–25 years. Unless the consolidated debt is paid off within the original consumer debt timeline — ideally by maintaining the same total monthly repayment and directing the saving toward accelerated mortgage principal reduction — debt consolidation into a mortgage transfers a short-term problem into a long-term interest burden.

Debt consolidation refinancing makes financial sense only if:

The monthly repayment saving is material and genuinely addresses a cash flow crisis
You commit to repaying the consolidated amount aggressively — ideally within the original consumer debt timeline
You have a clear plan to avoid re-accumulating the consumer debt after consolidation

Use the Dolaro mortgage calculator to model the combined repayment required to clear the consolidated balance on a shorter timeline.

Frequently Asked Questions

Is it worth refinancing my home loan in 2026?

For many Australian borrowers, yes — particularly those who have not reviewed their rate in the past two to three years. The average variable rate is 6.84%, while the lowest available refinance rates are around 5.35% to 5.70% for well-qualified borrowers. On a $700,000 balance, this gap is worth $3,500 to $8,000 per year. The case is strongest for borrowers with high equity (LVR below 80%), stable income, and a current rate materially above the best available for their profile.

How much does it cost to refinance a home loan in Australia?

Refinancing typically costs between $500 and $2,000 for a standard external refinance, according to Money.com.au analysis. This includes the existing lender's discharge fee ($150–$350), the new lender's application or establishment fee ($0–$600), conveyancing and legal fees ($500–$1,200), and potentially a property valuation fee ($0–$300). Many lenders waive application fees for refinancers. Cashback offers of $2,000–$10,000 can offset or exceed total switching costs entirely for eligible borrowers.

How do I know if my current rate is too high?

Compare your current rate against the best available variable or fixed rate for your LVR, loan purpose, and income profile using comparison sites. If your current rate is more than 0.40% above the best comparable available rate, contact your lender and request a rate review — cite a specific competing offer. If they do not match it satisfactorily, the refinancing calculation is worth running in detail.

How long does refinancing take in Australia?

The end-to-end refinancing process typically takes 4 to 8 weeks from application to settlement. This includes 1–5 business days for conditional approval, 1–2 weeks for formal approval and document preparation, and 2–4 weeks for legal settlement. Having all documentation ready before applying and responding promptly to lender requests reduces this timeline significantly.

Can I refinance if I am on a fixed rate?

Yes, but you will almost certainly pay a break cost — potentially a significant one. Request a formal break cost quote from your current lender (free, 1–2 business days) before proceeding. The break cost quote is the only reliable figure. Once you have it, add it to the other switching costs and compare against your monthly saving to calculate the break-even period. If the break-even period is reasonable given your plans for the property, breaking the fixed rate may still be worthwhile.

What does "no equity" mean for refinancing?

If your LVR is above 80% — meaning you have less than 20% equity — you may not qualify for standard refinance products, and you may be required to pay LMI with the new lender. LMI is calculated on the loan amount and can cost $8,000 to $30,000 or more. For borrowers who purchased recently with a small deposit or whose property value has declined, checking the current LVR before applying prevents a disappointing (and credit-file-damaging) decline.

Should I use a mortgage broker to refinance?

A mortgage broker provides access to a panel of 30 to 50+ lenders with a single credit enquiry, can negotiate on your behalf, and saves significant time. They are paid by the lender (not the borrower) via a trail and upfront commission, which creates a potential conflict of interest — brokers may favour lenders that pay higher commissions. Ask your broker directly: are there lenders on your panel offering a lower rate than what you are recommending? A good broker welcomes that question.

What is a "loyalty tax" in home loans?

The loyalty tax refers to the documented tendency of Australian lenders to offer better rates to new customers than to long-term existing customers. The RBA has estimated this at 0.40% to 1.00% for existing borrowers. The phenomenon exists because lenders know that mortgage inertia is high — many borrowers never review their rate and simply continue paying whatever they were charged at origination. The most effective counter is to treat your mortgage as a negotiable contract reviewed at minimum every two years.

What happens to my offset account when I refinance?

Your offset account balance cannot be directly transferred to a new lender's offset account. You will need to withdraw the funds (or transfer to a transaction account) before settlement, then transfer them to the new offset account once the new loan is established. Ensure there is no gap period where your funds are not earning offset benefit — coordinate the timing of the transfer with your conveyancer.

Can I refinance an investment property loan?

Yes. The same process applies, with the additional consideration that investment loan rates are typically 0.20% to 0.60% higher than equivalent owner-occupier rates. Ensure you are comparing investment loan rates (not owner-occupier rates) when assessing the market. Tax deductibility of interest on investment loans means the after-tax cost of a given rate is lower than for an owner-occupier — factor this into the total saving calculation.

Final Word

Refinancing is not a complex financial decision — but it is a high-value one. The difference between a well-executed refinance and leaving an outdated rate in place can be $50,000 to $150,000 in total interest over the remaining life of a typical Australian mortgage.

The decision framework is straightforward: know your current rate, calculate the gap against the best available rate for your profile, get a break cost quote if you are on a fixed rate, calculate total switching costs, divide by monthly saving, and act if the break-even is reasonable.

The most common barrier is inertia — the sense that the process is more complex or time-consuming than it actually is. With documentation ready, the application stage takes an afternoon. Settlement takes 4 to 8 weeks. The financial impact lasts decades.

Use the Dolaro mortgage calculator to calculate your exact monthly repayment saving from a rate reduction on your current balance and remaining term — and see how quickly you recover the switching costs.

This article is general information only and does not constitute financial, legal or credit advice. Interest rates and cashback offers change frequently. Always verify current rates and offer terms directly with lenders and seek advice from a qualified professional before refinancing.

Sources:

Finder, Refinance Home Loan Rates, May 2026
Money.com.au, Cost to Refinance a Home Loan, May 2026
Money.com.au, Best Refinance Home Loan Rates, June 2026
Canstar, Home Loan Refinance Cashback Offers, June 2026
Money.com.au, Best Home Loan Cashback Offers, May 2026
AFMS Group, Break Cost Calculator, February 2026
Home Loan Experts, Break Cost Calculator
Savings.com.au, Best Refinance Home Loan Rates, June 2026
Reserve Bank of Australia, Cash Rate Target, June 2026