The number of people refinancing their home loan to the bank has risen 45% over the past quarter, according to a report by Westpac published Tuesday.
Nearly a third of Australian homeowners are considering refinancing, while 82% of refinancers want the process to be more digitized and less time-consuming, per the bank's latest Home Ownership Report.
Westpac has introduced a rate of 5.84% per annum for owner-occupier refinancers with up to a 70% loan-to-value ratio.
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