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.

Rate decision good news for homeowners!

It’s the month of love, and what’s not to love about a steady cash rate? With the Reserve Bank of Australia (RBA) keeping the official cash rate at 0.75%.
It’s a brilliant start to the year, especially if you’re juggling back to school costs. The question is: Are you making the most of record-low rates?

We’re seeing a wide selection of home loan rates below 3%. It’s important to know how your loan compares to be sure you’re getting the best possible deal for your needs.

A quick home loan review with your Mortgage Choice broker can show if you could secure a lower rate, setting you up for valuable savings in 2020.

Property market climbs higher

Interest rates at record lows, but property values nationally are climbing higher.

Such is the strength of the market upswing, research group CoreLogic says home values could reach new highs by March this year.

It’s a good incentive to put your property plans into place now while values are still below their previous peaks.

New help for first home buyers

The exciting new First Home Loan Deposit Scheme kicked off on 1 January with two of the big banks coming on board immediately. The majority of lenders however, have only just made home loans available through the Scheme since 1 February. This gives first home buyers who apply now, a far wider choice of home loans.

The First Home Loan Deposit Scheme can help you buy a place of your own even with just 5% deposit, helping you beat rising property prices.

To find out how it works and whether you’re eligible for this boost to your buying power, contact your local Mortgage Choice broker.

Getting your home loan in great shape now, can set you up for the rest of 2020. Call your Mortgage Choice broker today to make the most of your home loan this year – settle a home loan under $500,000 for your chance to win 2 years’ worth of interest repayments on Mortgage Choice!

Win 2 years' worth of interest on us!^

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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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