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It’s not that easy to switch lenders for better rates 

First home buyers now have to demonstrate they can pay their mortgage at 9% in order to refinance their loan, The Australian Financial Review reports. This has meant a large number of first home buyers are forced to stay with their existing lenders, which benefit the big banks. Read more: https://lnkd.in/gUV4ZxaW

Buyer's agent Jack Carter writes on LinkedIn that in the current environment, borrowers are unlikely to be able to refinance that easily and the impact is going to be felt by those most recent borrowers who are on lower incomes. "This is normally your mortgage belt suburbs that feature a large proportion of first-home buyers who are highly leveraged," he writes. Read more: https://lnkd.in/gnFKFJqQ 

CoreLogic Australia's Eliza Owen writes factors other than the mortgage cliff could be driving the rise in the number of new listings in recent weeks. "With home values rising for the past five months, this may be prompting more selling decisions that did not take place when the market was in decline last spring. Some prospective sellers may also be looking to get ahead of the spring selling season when competition among vendors is likely to be more intense," she writes. Read more: https://lnkd.in/gMjKf-vU

Is the mortgage cliff causing homeowners to stay with their existing lenders? 

What impact do you think this will have on the property market?