Given the way that a lot of the major lenders have increased their home loan rates recently a number of people will be considering switching their mortgage to a different lender with a lower rate especially given the typical major banks variable rates (package deals) are sitting above 4.5%'s and some lenders are offering variable rates from 3.99% with offsets).

This is a very good calculator that can help understand the cost saving of switching your mortgage (costs to switch sit around $1,000 in total give or take $100/$200's.):