This month, the Reserve Bank of Australia (RBA) chose to move the cash rate to 4.10%. With the cash rate increasing by 4 percentage points since the start of 2022. On top of that, many fixed-rate loans are due to expire in the second half of this year, which could double (or more) the amount of interest those households pay in interest.

In a climate of escalating interest rates, it’s crucial to be well-armed with knowledge and strategies to navigate these financial waters effectively. We aim to provide actionable insights to lessen your impact and make sure you’re aware of options that could help your financial situation. Our ultimate goal is to help transform this challenge into an opportunity for financial growth, ensuring you’re well-equipped to not only weather the storm of increasing rates but also leverage them to your advantage. 

What can I do to get a lower interest rate?

Lowering your interest rate can potentially save you significant amounts of money over the life of your loan. Here are a few strategies you might consider:

Refinance Your Loan: Refinancing involves taking out a new loan to pay off your existing one, ideally at a lower interest rate. This can be particularly beneficial if interest rates have fallen since you first took out your loan or if your credit score has improved.

Improve Your Credit Score: The better your credit score, the lower the interest rate you’ll typically be offered by lenders. Paying your bills on time, reducing your debt levels, and checking your credit report for errors can all help boost your score.

Negotiate with Your Current Lender: If you’ve been a reliable customer, your lender might be willing to lower your interest rate to keep your business. It doesn’t always work, but it’s worth asking.

Shop Around: Different lenders offer different interest rates, so it can pay to shop around. Just be sure to compare not just the interest rates, but also the terms and any fees associated with the loan.

Consider a Fixed Rate: If interest rates are rising and you expect this trend to continue, it might be worth considering a fixed-rate loan. This will protect you from further increases, although you won’t benefit if rates subsequently fall.

Remember, every situation is unique, so it’s important to consider your own financial circumstances and perhaps consult with a financial advisor or broker before making decisions.

Can a mortgage broker do all of this for me?

Yes! Mortgage Innovations can indeed be instrumental in helping you secure a lower interest rate. We bring in-depth knowledge of the mortgage market and strong negotiation skills to the table, often securing better rates and terms. Besides assisting with the complex paperwork and application process, we can guide you through refinancing if it’s beneficial for you. Moreover, we can provide advice on improving your credit score, making you more appealing to lenders. Tailored to your financial circumstances, our advice can enlighten you about the impacts of different loan options. 

Let’s venture together into the realm of smart money management, fostering financial resilience amidst any economic conditions.



We’re a family-owned business with around 8 staff, 15+ years experience and more than $500M of approved loans. By taking time to understand your requirements, we help make your dreams come true with caring, professional service.

Our team of specialists including Gold Coast Finance Brokers, Medical Mortgage Brokers, Varsity Lakes Mortgage Brokers, Gold Coast Mortgage Brokers and Southport Mortgage Brokers  will find the right loan for you.


See Privacy Policy  | Terms and Conditions © 2023 Mortgage Innovations - All Rights Reserved | Mortgage Innovations Pty Ltd CAN 128 840 040 is authorised under LMG Broker Services Pty Ltd Australian Credit Licence 517192.

Website Design by Gold Coast Graphic Design | Development by Peritum Studios


This page provides generic information only; it was created without considering your individual goals, requirements, or financial condition. Before accepting any offer or product, we advise you to think about whether it is appropriate for your situation and to assess your entire financial status. It is not intended to be legal, tax, or financial advice, and you should always obtain a professional's opinion regarding your particular situation. All loan products are subject to lender requirements and approval. Fees, terms and conditions apply.

Your content goes here. Edit or remove this text inline or in the module Content settings. You can also style every aspect of this content in the module Design settings and even apply custom CSS to this text in the module Advanced settings.