Fun chat fact
An industry expert told me baby boomers are ‘mortgage lazy’. As a baby boomer myself this caught my ear!
She explained 39% of Australian mortgage holders in Australia are ‘giving’ banks an extra $27.4M per month ($328.2M per year) in interest and fees and … most of these people were baby boomers.
Simply because they had not reviewed and rewritten their mortgages in the last 10 years.
As interest rates increase this figure will rise!
Time to ask yourself the question – are you one of the 39% of Australians giving your bank extra money?