April’s 10 cheapest variable rate home loans
Rates are likely to stay around record lows. It's time to see if you can get a better deal.
The Reserve Bank didn't surprise too many economists when it chose to leave the official cash rate untouched at 1.50%. The result was correctly called by 97% of the experts polled in finder.com.au's monthly Reserve Bank Survey.
The cash rate now appears to be set to remain at its current level for the foreseeable future. CoreLogic research head, Tim Lawless, said home loan interest rates are sitting near historic lows, "particularly for owner-occupiers who are paying down both their interest and principal".
"While the RBA has flagged the next move in interest rates will be a rise, it remains likely that any hike to the cash rate is well in the future," Lawless said.
This means variable rate home loans remain at incredibly competitive rates. With this in mind, we've compiled April's list of the 10 cheapest variable rate home loans on offer through the finder.com.au database. To ensure the home loans we chose can help the average borrower, we applied the following criteria:
- All loans listed are principal and interest loans for owner-occupiers.
- All loans have a maximum loan-to-value ratio (LVR) of at least 80%.
- Each loan has a minimum loan amount no more than $150,000 and a maximum amount of $500,000 or more.
- We've excluded line of credit, guarantor and construction loans.
- Rates are correct as of 4 April 2018.
Check out the table below to see the cheapest deals on offer through finder.com.au. If you're paying a higher rate, it may be time to refinance for a better deal.
*Our cheapest variable rate home loans round-up is a monthly article that features the cheapest loans in finder.com.au's database. The rates and other information in this page are correct at the time of publication and are subject to change. There may be cheaper loans on the market than the ones listed here.