There's a great migration playing out in the Australian mortgage market. With a rapid increase in interest rates and a tendency among lenders to offer their best deals to new customers, a record number of mortgage holders are seeking greener pastures by switching providers.
The loans refinanced in November ($19.3 billion), December ($19 billion) and January ($18.6 billion) were the three highest monthly totals yet recorded by the Australian Bureau of Statistics, and with recent rate rises still working through the system and many borrowers set to come off low fixed rates in the months ahead, there's likely to be plenty of refinancing to come.
Deciding to switch to a more competitive deal is one thing, but identifying the right
