From mozo.com.au: The RBA has cut the cash rate by 25 basis points, the first reduction in over four years, prompting a wave of lenders to announce they will pass on this cut to borrowers.

While 59% of lenders are providing mortgage relief, many banks are simultaneously reducing savings rates, impacting savers negatively.

Following this rate cut, nearly half of Australian mortgage holders are considering refinancing their home loans, highlighting a significant shift in borrower sentiment.