Compare home loans

Find the best mortgage rate whether you're buying your first home, upgrading, investing, or refinancing.

Compare home loans from 41 Australian lenders, with lowest home loan rates starting from:

Fixed rate


Comparison rate



Interest rates updated:

16 July, 2024

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Last updated 16 Jul, 2024

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Home loan interest rates

Home loan interest rates have a big impact on your home loan repayments. Rates vary from lender to lender, making the home loan market highly competitive.
That's why it's important to stay up to date and understand the different types of interest rates to make sure you're getting the best value without sacrificing the loan features that matter to you.
View our top 5 home loan rates below and speak to your broker to find a competitive rate.

A comparison rate is a standardised way of comparing loans as it takes into account some of the fees and charges of the loan over a set period of time. It is intended to give you a better overview of the true cost of the loan compared to the interest rate, however as it’s based on a standardised loan period and dollar amount, it’s always best to do your own research to work out which loan is best for you. Learn how comparison rates are calculated.

The pros of taking out a fixed rate include the knowledge that your repayment won’t rise during that period, providing peace of mind with no concern for any rate rises. While the cons of a fixed rate home loan can include penalties for early payout of the loan, limits on additional payments that can be made, and your repayments will not decrease if rates fall. A Mortgage Choice broker can help work out if a fixed rate is right for you. 

The pros of a variable rate home loan include more flexibility and additional features, such as a redraw facility, the ability to make additional payments and low introductory or honeymoon rates. While the cons of a variable rate can involve higher fees for those additional features, and your repayments can increase when official rates increase. Mortgage Choice brokers can help you decide what loan features are right for you.

Choosing your interest rate involved comparing home loans by understanding what features are right for your situation. Looking at the interest rate, fees and features that each product offers & using the comparison rate can provide an overview of the true costs of a loan. A mortgage broker can help you compare 1000s of loans to find the right loan for you. 

Current top 5 most competitive interest rates

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How a Mortgage Choice broker can help you

At no cost to you.

No obligations until you are ready to make a deal.

Chat online, in person or over the phone, at your convenience.


Evaluate your needs

Your Mortgage Choice broker will work with you to get a detailed picture of what you need from a home loan. They will calculate how much you can borrow so that you know the price range you can afford.

Compare your home loan options

Your broker can compare over 4,000 loan options and help you access market leading rates from over 35 lenders.

We do the hard work for you

From pre-approval to final application, your broker will help with the paperwork and follow through the entire home loan process from start to finish.

Ongoing support and advice

Your broker is with you for the life of the loan, often helping customers with multiple loans over time.

Start your journey and achieve your property goals

Purchase a home

See what's within your reach by understanding your borrowing power.

Refinance my mortgage

Explore latest market home loans and discover how much you could be saving on your mortgage.

Invest in a property

Access resources to navigate the realm of property investment with confidence.

Buy land and build

Grasp the essentials of purchasing house & land packages.

Home loan guides and resources

Learn and find out more about home loans and how to empower yourself in your property journey.

More guides and insights

Home Loans

Learn how to apply for a home loan with comprehensive tips and guides

Learn about home loans

First Home Buyers

Understand all your options and what help is available

First home buyer tips and advice


Research why you should and how to refinance to find the best rates

Guides and advice for refinancing

Property Investment

Learn how to grow your property portfolio by investing in real estate

Property investment tips and advice
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Choosing the right home loan with Mortgage Choice

A Mortgage Choice broker can help you find the loan that’s right for you. They will analyse the market and compare home loans from over 35 lenders (including the big banks) to help you find the right loan for your needs.

Find a local broker

Comparing home loan FAQs

Traditionally it's thought that a 20% deposit is needed to buy a house, however it is possible to buy with less by using LMI, or taking advantage of first home buyers grants and incentives or by using a guarantor.

To find the best home loan rate it is important to understand your financial situation and determine what type of loan features are right for you. Everyone will have a different “best home loan” based on their circumstances and a mortgage broker can help find the right loan for you. You and your broker will consider things like interest rates and comparison rates, loan features (like offsets and redraw facilities) and also work out which loans will be right for your total loan amount and your LVR.

Finding the right lender for you involves having a comprehensive understanding of what  is important to you. Similar to finding the right home loan, this can involve reviewing the interest rates, fees and features that a lender offers for each home loan product and determining which is best suited for your situation.

Interest rates on home loans are set by the lender and they can vary depending on factors to your situation such as the loan purpose, repayment type and rate types. External economic factors can also have an impact on how interest rates are set including the RBA cash rate and inflation.

If you’re keen to secure a better interest rate, lower repayments or take advantage of more loan features, refinancing your home loan can be the solution. Refinancing is also an opportunity to get control of debt or tap into any home equity you’ve built up.

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