You should seriously think about refinancing - changing your mortgage to a different provider - if it's been several years since you took out your home loan, based on the Home Loan Price Enquiry conducted by the Australian Competition and Consumer Commission (ACCC).
That's because, after comparing existing borrowers with new borrowers, the ACCC found:
Borrowers with home loans between three and five years old had an interest rate that was, on average, 0.58 percentage points higher than the average rate for new loans.
Borrowers with home loans between five and ten years old had a rate that was 0.71 percentage points higher.

Lenders have to fight fiercely for new customers, so they tend to offer them better deals; they also know existing customers are often too busy to think about switching loans, so they may feel they can get away with charging them higher rates.
You should also consider refinancing if:
Your financial position has changed since you took out your mortgage – you may be able to access a loan structure that is more suitable to your new position.
You've built up equity in your property – you may be able to qualify for a loan with a lower interest rate if your equity position has increased since you took out the mortgage.
If you have questions about your mortgage, we'd be happy to assist you.