The big issue really isn't the rates available it's whether those trying to refinance can meet the serviceability test of 4.74% + 3% in order to be able to refinance to a better deal. There may be some that are simply stuck with their current lender and can only try to pressure them for a better deal.
Most lenders won't match what Unloan is offering but may get you down to between 5-5.5%. I do wonder if some may play not as nice though if they know someone won't qualify to refinance their loan elsewhere.
