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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.

Latest RBA cash rate decision

March 2019

Good news – cash rate stays on hold once again!

Home owners around the country will be delighted to learn that the Reserve Bank of Australia (RBA) has once again kept the official cash rate on hold at 1.5%.

It means home loan repayments should remain unchanged – for a month at least until the RBA meets again.

While we have now enjoyed a stable cash rate for more than two years, the outlook for the rest of 2019 is less certain.

The RBA has previously warned that the next rate move is likely to be up. However, in a recent speech, the Reserve Bank Governor Philip Lowe, acknowledged that slower than expected economic growth has reignited the possibility of a future rate hike.

For home owners, it really is a case of watch this space.

What does it mean for you?

After many years on hold, we are entering a period of interest rate uncertainty.

That makes it critical to be sure you still have the right home loan – with the right rate – for your needs.

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What does a mortgage broker do?

A mortgage broker can take the time and hassle out of shopping around for the right home loan, and guide you through the home buying process with expert advice.

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