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Home loan interest rates

Interest rates are at record lows but they won’t 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

September 2018

Homeowners can rest easy – rates stay on hold!

At its Board meeting for September, the Reserve Bank of Australia (RBA) opted to leave the official cash rate at its historic low of 1.5%.

The latest rate decision is especially exciting, as the RBA had flagged at previous meetings that the next rate move could be up.

Homeowners, home buyers, and investors have something to celebrate – an extension of the extended period of super-low interest rates we have enjoyed.

The official cash rate may be on hold but even the Reserve Bank has noted that competition in the home loan market is red hot.

Contact your local Mortgage Choice broker to discover how you can take advantage of a cooler property market and interest rates that remain super low with a competitively priced home loan that is right 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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