Money horoscopes, money confessions & ditching debt in 2022: This week’s best banking news

• Are low fixed home loan rates dying?
• How to ditch debt in 2022
• Your 2022 Money Horoscope: Shake the Mozo magic 8-ball
• Will buying a new car be easier in 2022?
• Mozo money confessions revealed
• How to lower your home loan repayments in 2022

All in this week’s best banking news recap: editor’s pick.

Are low fixed home loan rates dying?

With a year of record lows in 2021, it appears that fixed home loan interest rates are officially on their way up. 

While longer-term fixed rates (4 and 5-year terms) have been increasing for some time now, towards the end of 2021, we saw many lenders start to up their shorter fixed rates (1, 2 and 3-year terms) too.

“We had some amazingly low fixed rates last year, but those rates have largely gone now,” says Mozo Banking Expert Peter Marshall.

Read full article: Is 2022 your last chance to lock in a low fixed home loan rate? to find out.

How to ditch debt in 2022

Who’s ready to become their best self this year? Repeat after me: “In 2022, we’re getting enough sleep, we’re staying hydrated, we’re setting healthy boundaries, AND we’re getting debt-free!”

If your new year’s resolution is to finally rid yourself of any lingering debt, then there are loads of different ways to do just that. Let’s get to work!

Read the full article: Want to ditch debt in 2022? Here are 6 top tricks to get you started.

Your 2022 Money Horoscope: Shake the Mozo magic 8-ball

There’s nothing like the fresh start of a new year. A lot can happen in 365 days. Will you fall in love? Join the circus? Make it on the Forbes billionaires list?

You’ll just have to wait and see. Then again, you could always consult the stars …

Shake the mystical Mozo Magic 8-ball to see what’s up for you and your finances in 2022:

Read the full article: 2022 Money Horoscope: Shake the Mozo magic 8-ball for a glimpse at your financial future.

Will buying a new car be easier in 2022?

If you tried to purchase a brand new set of wheels over the past two years, you might’ve found yourself having to settle for a pre-loved vehicle instead, thanks to the state of the car industry. 

“With some people being forced to consider buying a used car as the microchip shortage puts the brakes on the supply of new cars, the used car loan market is running hot,” says Mozo spokesperson Tom Godfrey.

Which begs the question - will buying a new car be any easier in 2022?

Read the full article: Will it be easier to buy a new car in 2022? to find out.

Mozo money confessions revealed

Confession time! What’s the worst purchase you’ve ever made? Would you dare to tell?

Well, we dared some of our Mozo money writers to sit in the hot seat and spill the tea on their best and worst purchases of 2021.

Find out who had the most scandalous purchases of the year - [Hopefully, you can learn a thing or two from us, so your bank account doesn’t have to suffer.]

Read the full article: The Mozo Team’s best & worst purchases of 2021 to find out which confession took the cake.

How to lower your home loan repayments in 2022

There’s no better way to start the year than with a financial spring clean - am I right? And if you’re looking to save some serious dosh in 2022, a great place to start is with your home loan.

“According to the external refinancing figures released by the Australian Bureau of Statistics (ABS), as of October 2021, more than 498,000 Aussies refinance their loans. There was a total of $16.08 billion worth of home loans being refinanced from one lender to another,” said Mozo Money Writer Maria Gil.

Read the full article: How to lower your home loan repayments in 2022 for the full scoop.

On the hunt for the right home loan to help get you the keys to your dream home? Start comparing home loans today with our free home loan comparison tool below: