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Home loan interest rates

Interest rates are at record lows but may not stay this low forever. Now might be an ideal time to shop around and lock in a low rate. Staying up to date with current interest rates and the latest RBA decision can help you decide whether your home loan is still right for you.


Home loan interest rates will play a big role in your regular home loan repayments. Lenders know this – so there is plenty of competition to provide the best home loan rates. However, mortgage interest rates are decided by a range of factors, and they will vary from lender to lender. This makes it important to stay up to date with current interest rates and compare different types of home loans to see which home loan interest rates offer the best value without scrimping on loan features.

 

Our top five interest rates available


Lender
Interest
Rate
Comparison
Rate

Credit criteria, conditions, fees and charges apply. Subject to suitability. The comparison rates in this table are based on a loan amount of $150,000 and a term of 25 years. Warning: This Comparison Rate applies only to the example or examples given. Different amounts and terms will result in different Comparison Rates. Costs such as redraw fees or early repayment fees, and costs savings such as fee waivers, are not included in the Comparison Rate but may influence the cost of the loan.

Lender
Interest
Rate
Comparison
Rate

Credit criteria, conditions, fees and charges apply. Subject to suitability. The comparison rates in this table are based on a loan amount of $150,000 and a term of 25 years. Warning: This Comparison Rate applies only to the example or examples given. Different amounts and terms will result in different Comparison Rates. Costs such as redraw fees or early repayment fees, and costs savings such as fee waivers, are not included in the Comparison Rate but may influence the cost of the loan.

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Snap & Save

Does your home loan interest rate start with a 3? If you answered no, you might be paying too much. Snap a picture of your recent loan statement and we’ll help you determine if you’re still in the right product.

Reserve Bank sits on the fence yet again

May 2019

Good news home owners! We’re set to enjoy another month of record low interest rates with the Reserve Bank of Australia (RBA) sitting tight yet again, and keeping the cash rate unchanged at 1.5%.

The RBA’s reluctance to change the cash rate comes on the back of the latest job market figures, which show Australia’s unemployment rate has dropped from 5.0% to a tiny 4.9%[1], the lowest in eight years.

Despite signs of a slowing economy, the Reserve says we are still on track to achieve economic growth this year, and a drop in the unemployment rate gives the RBA reason to hit the ‘pause’ button on a possible rate cut.

A recent CoreLogic report[1] confirms that since the start of cooler market conditions in October 2017, home values nationally have fallen by 6.8%. That said, CoreLogic is also quick to point out that the property market has always been cyclical – following a pattern of highs and lows.

As foreign investors withdraw from the property market, government appetite for approving high rise developments is waning. This will ultimately lead to a reduction in the supply of new homes, helping to bring stability back to property values.

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