We locked in a fixed rate 2 years ago at 7% then guess what, the variable rate went to almost the lowest in the history. The fixed rate contract is up by the end of this month and we are thinking of refinancing.
Any advice?
I don't really know how refinancing works!
1) Shop around for a good rate/terms (i.e. read this: https://www.ozbargain.com.au/node/149966)
2) If you are happy with your bank, ask them to match it.