Solution finder
It all starts with a goal, what's yours? Buy or build my first home and
edit

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.

Latest RBA cash rate decision

June 2018

It would appear the Reserve Bank of Australia (RBA) is stuck on a loop, having today made the decision to keep the official cash rate on hold once again at the record low setting of 1.50%.

RBA’s most recent quarterly statement on monetary policy stated conditions in the global and domestic economies remain positive and are broadly continuing on track.

At home, employment growth has been strong, business conditions are above average in all industries and consumer sentiment also remains above average. However, household income growth is weak and inflation is not within the Board’s target range.

Housing markets in the nation’s largest capital cities, Sydney and Melbourne, have eased, which would have further encouraged the RBA Board to keep rates on hold.

This is good news for home buyers and investors alike and supports the RBA’s decision to hold rates and promote economic growth. However, market expectations are for a further tightening of credit policies, which could see interest rates rise, despite a record low cash rate.

We have a team of experts available to speak to you and ensure you’re in the right home loan product for your circumstances and needs.

HBB-Snap&Save-Infographic-2200x490.jpg

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.

HP-female-broker-2200x490.jpg

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.

Your local Mortgage Choice broker


Find me a...


Things can change quickly in the market.

Subscribe and stay informed with news, rates and industry insights.