Fixed rate demand hovers near record highs

Adam Smith 2 November 2017 NEWS

percent lockMore than one in four borrowers are choosing to lock in their rate.

New figures from Mortgage Choice show fixed rate home loans accounted for 28.23% of all mortgages written by the broker in October. The figure was little changed from last month, when fixed rates accounted for 28.33% of home loans.

“Over the past four months, fixed rate demand has consistently sat above 28%. The last time we saw this level of consistent fixed rate demand was back in early 2013,” Mortgage Choice chief executive John Flavell said.

Flavell said borrowers were choosing to fix their home loan as forecasts of a Reserve Bank rate rise firms. He predicted the official cash rate could rise “in the not too distant future”.

“Indeed, market conversations around home loan interest rates have changed from ‘if rates rise’, to ‘when rates rise’. Borrowers are acutely aware that a rise in the official cash rate is now largely inevitable, and subsequently are increasingly opting for certainty and security around their mortgage payments,” Flavell said.

Flavell argued that competition in the fixed rate space was also encouraging more borrowers to consider locking in a rate.

“We continue to see Australia’s lenders adjust the interest rates on their fixed rate products for both investors and owner-occupiers. Some have slashed the interest rates on their fixed rate products by as much as 20 basis points in recent weeks. This would no doubt influence some borrowers’ home loan product decisions.”

Compare the latest fixed rate home loans below

Rates last updated May 27th, 2018
$
Loan purpose
Offset account
Loan type
Your filter criteria do not match any product
Name Product Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment Short Description
3.59%
4.14%
$395
$0 p.a.
80%
A one year fixed rate offer with no ongoing bank fees.
3.99%
5.17%
$600
$0 p.a.
90%
Competitive rates for fixed for 3 years with redraw facility.
3.74%
4.01%
$395
$0 p.a.
80%
An online home loan offer with a fixed interest offer for 3 years.
3.84%
4.17%
$0
$395 p.a.
80%
Lock in a competitive rate for owner occupiers for two years. Extra repayments up to $30,000 over the life of the fixed period can be made.
3.99%
4.62%
$395
$0 p.a.
80%
Investors can enjoy flexible repayments and an easy application process with this pioneering online lender.
3.69%
4.62%
$0
$395 p.a.
90%
Enjoy a discounted fixed rate and the ability to package the loan with other financial products.
3.69%
4.04%
$0
$350 p.a.
95%
A competitive rate with no application fee.
3.69%
4.93%
$600
$0 p.a.
95%
Competitive rates for fixed for 3 years with no ongoing fees.
3.90%
4.78%
$600
$0 p.a.
95%
A competitive fixed rate mortgage with split facilities and extra repayments. You can get this loan with a 5% deposit.
3.99%
4.86%
$0
$0 p.a.
80%
Access a fee-free 100% offset account and pay no application or ongoing fees.
3.74%
4.58%
$0
$395 p.a.
90%
A two year fixed rate home loan with application fees.
3.85%
4.05%
$0
$350 p.a.
95%
This high LVR fixed rate loan allows you to borrow up to 95% of the value of the property you're buying.
3.79%
4.97%
$0
$0 p.a.
90%
Investors can take advantage of a short term fixed rate with no application or ongoing fees.
4.14%
4.81%
$0
$0 p.a.
80%
Pay no application fees and access a fee-free redraw facility with this fixed rate loan.
3.87%
3.87%
$0
$10 monthly ($120 p.a.)
90%
Get Virgin Velocity Points at settlement, monthly and every three years, plus the option to make up to $10,000 a year in extra repayments.
4.33%
4.14%
$0
$0 p.a.
90%
4.19%
3.90%
$0
$0 p.a.
80%
3.89%
4.88%
$0
$395 p.a.
95%
Refinance from your existing loan and get a $1,250 rebate. Terms and conditions apply. Plus get discounts on a range of Westpac products.
3.89%
4.94%
$0
$395 p.a.
95%
Fix your rate for 2 years and know your repayments giving you ease in budgeting.
4.49%
4.20%
$0
$0 p.a.
90%
Fixed rate loan with a 100% offset account and a 10% deposit option.
3.99%
3.84%
$0
$0 p.a.
95%
A two year fixed rate home loan with no annual or application fees.
3.99%
4.96%
$0
$395 p.a.
95%
This 2 year fixed ANZ Breakfree Package rate comes with package discount and product bundle. Terms and conditions, package fee and fees, charges & eligibility criteria apply.
3.89%
4.97%
$0
$395 p.a.
95%
Get discounts on a range of Commonwealth Bank products and enjoy the option of fee-free extra repayments during the fixed term.
3.89%
4.96%
$0
$395 p.a.
95%
Refinancers can get $1,500 cashback. Conditions apply. Package your home loan with a Qantas rewards earning Amplify credit card.
4.14%
5.06%
$600
$10 monthly ($120 p.a.)
95%
Get a 2-year fixed rate with flexible repayment options to help you save.
3.79%
4.99%
$600
$8 monthly ($96 p.a.)
95%
Get a partial offset account and the option to make interest-only repayments.

Compare up to 4 providers

Compare the latest fixed rate home loans below

Rates last updated May 27th, 2018
$
Loan purpose
Offset account
Loan type
Your filter criteria do not match any product
Name Product Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment Short Description
3.74%
4.01%
$395
$0 p.a.
80%
A competitive refinance offer on a 3 year fixed rate.
3.85%
4.05%
$0
$350 p.a.
95%
This high LVR fixed rate loan allows you to borrow up to 95% of the value of the property you're buying.
3.94%
4.79%
$0
$0 p.a.
95%
A low 3-year fixed rate with the option to split your loan for free.
3.69%
4.93%
$600
$0 p.a.
95%
Competitive rates for fixed for 3 years with no ongoing fees.
4.14%
4.81%
$0
$0 p.a.
80%
Pay no application fees and access a fee-free redraw facility with this fixed rate loan.
3.87%
3.87%
$0
$10 monthly ($120 p.a.)
90%
Get Virgin Velocity Points at settlement, monthly and every three years, plus the option to make up to $10,000 a year in extra repayments.
3.99%
5.17%
$600
$0 p.a.
90%
Competitive rates for fixed for 3 years with redraw facility.
4.19%
3.90%
$0
$0 p.a.
80%
3.74%
4.58%
$0
$395 p.a.
90%
A two year fixed rate home loan with application fees.
3.90%
4.78%
$600
$0 p.a.
95%
A competitive fixed rate mortgage with split facilities and extra repayments. You can get this loan with a 5% deposit.
4.49%
4.20%
$0
$0 p.a.
90%
Fixed rate loan with a 100% offset account and a 10% deposit option.
3.87%
4.47%
$300
$10 monthly ($120 p.a.)
80%
This fixed rate loan includes a special offer for new lending of $150000 with an LVR of 80% or less. Offer extended.
4.14%
5.07%
$600
$8 monthly ($96 p.a.)
95%
A fixed rate home loan offer from Commonwealth Bank.
4.38%
5.21%
$295
$12 monthly ($144 p.a.)
90%
Get budgeting certainty with a competitive 3-year fixed rate.
4.29%
4.63%
$0
$350 p.a.
90%
Enjoy the certainty of a fixed rate home loan along with additional repayments up to $1,000 per month without penalty.
4.39%
5.42%
$300
$10 monthly ($120 p.a.)
95%
Principal and Interest or Interest only terms, lock in a 3 year fixed rate.
4.14%
5.09%
$600
$10 monthly ($120 p.a.)
95%
Redraw facility and interest-only repayments available.
4.19%
5.09%
$600
$8 monthly ($96 p.a.)
95%
Ability to make extra repayments during the fixed term and access the money through redraw.
3.89%
4.91%
$600
$8 monthly ($96 p.a.)
95%
Fix your rate and enjoy a partial offset account along with flexible repayments.
3.99%
4.91%
$0
$395 p.a.
95%
A 3 years fixed rate that allows borrowers to borrow from $150000 up to $10000000.
3.99%
4.90%
$0
$395 p.a.
95%
A competitive three year fixed rate with discounts on fees.
3.83%
4.68%
$0
$299 p.a.
95%
A competitive and flexible package that offers discounts and a sharp 3-year fixed rate.
3.83%
4.49%
$0
$299 p.a.
95%
A low 3-year fixed rate with no ongoing fees.

Compare up to 4 providers

Compare the latest fixed rate home loans below

Rates last updated May 27th, 2018
$
Loan purpose
Offset account
Loan type
Your filter criteria do not match any product
Name Product Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment Short Description
3.59%
4.14%
$395
$0 p.a.
80%
Refinance with UBanks low 1 year fixed rate offer. No application fee.
3.79%
4.97%
$0
$0 p.a.
90%
Investors can take advantage of a short term fixed rate with no application or ongoing fees.
3.99%
4.62%
$395
$0 p.a.
80%
Investors can enjoy flexible repayments and an easy application process with this pioneering online lender.
4.25%
4.11%
$0
$0 p.a.
90%
4.04%
5.25%
$600
$8 monthly ($96 p.a.)
95%
A 1 year fixed rate home loan from Commonwealth Bank.
4.09%
5.65%
$399
$8 monthly ($96 p.a.)
90%
Get a competitive 1-year fixed rate from an international bank.
4.24%
5.29%
$600
$10 monthly ($120 p.a.)
95%
Enjoy a 1-year fixed rate with flexible features such as redraw, rate lock, a partial interest offset facility, repayment pause and more.
4.09%
4.97%
$0
$395 p.a.
95%
Secure a competitive 1-year fixed rate with low ongoing fees.
4.09%
5.03%
$0
$395 p.a.
95%
A competitive package home loan with 100% offset account.
5.99%
6.72%
$1,500
$12 monthly ($144 p.a.)
70%
Borrow from $100000 up to $2000000.
4.69%
5.82%
$600
$8 monthly ($96 p.a.)
95%
A competitive fixed rate home loan with extra repayments available.
6.44%
7.25%
$1,500
$12 monthly ($144 p.a.)
70%
Enjoy a partial offset account and interest-only options.

Compare up to 4 providers

Compare the latest fixed rate home loans below

Rates last updated May 27th, 2018
$
Loan purpose
Offset account
Loan type
Your filter criteria do not match any product
Name Product Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment Short Description
3.89%
4.87%
$0
$0 p.a.
90%
Borrow up to 90% of the value of the property you're buying and pay no application or ongoing fees.
3.85%
4.82%
$600
$35 monthly ($420 p.a.)
90%
Make up to $10,000 in extra repayments per year and take advantage of a flexible repayment schedule.
3.84%
4.17%
$0
$395 p.a.
80%
Lock in a competitive rate for owner occupiers for two years. Extra repayments up to $30,000 over the life of the fixed period can be made.
4.33%
4.14%
$0
$0 p.a.
90%
3.99%
4.86%
$0
$0 p.a.
80%
Access a fee-free 100% offset account and pay no application or ongoing fees.
3.89%
4.97%
$0
$395 p.a.
95%
Commonwealth Bank 2 Years Fixed Wealth Package Home Loan
3.99%
3.84%
$0
$0 p.a.
95%
Fix a low rate home loan for 2 years with Aussie Home Loans.
4.09%
5.51%
$399
$8 monthly ($96 p.a.)
90%
Enjoy a low rate on a 2-year fixed home loan.
4.14%
5.06%
$600
$10 monthly ($120 p.a.)
95%
Flexible repayment options to help you save.
4.09%
4.59%
$0
$350 p.a.
90%
Get a 2-year fixed rate with a high maximum LVR and no application fees.
3.89%
4.96%
$0
$395 p.a.
95%
Refinancers can get $1,500 cashback. Conditions apply. Package your home loan with a Qantas rewards earning Amplify credit card.
3.89%
4.88%
$0
$395 p.a.
95%
Refinance from your existing loan and get a $1,250 rebate. Terms and conditions apply. Plus get discounts on a range of Westpac products.
4.04%
5.14%
$600
$8 monthly ($96 p.a.)
95%
Peace of mind for two years with a fixed interest rate.
5.99%
6.67%
$1,500
$12 monthly ($144 p.a.)
70%
Lock in a competitive 2-year fixed rate on your SMSF property
4.09%
5.16%
$600
$8 monthly ($96 p.a.)
95%
Get the stability of a 2-year fixed rate with the flexibility of great features.

Compare up to 4 providers

Compare the latest fixed rate home loans below

Rates last updated May 27th, 2018
$
Loan purpose
Offset account
Loan type
Your filter criteria do not match any product
Name Product Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment Short Description
4.09%
4.10%
$395
$0 p.a.
80%
An online only home loan with a great 5 year fixed rate. Available for refinance and purchases.
4.59%
5.05%
$0
$395 p.a.
95%
A discounted rate and fee waivers are available with this loan.
4.54%
5.08%
$600
$8 monthly ($96 p.a.)
95%
A fixed home loan rate from Commonwealth Bank.
4.54%
5.10%
$600
$10 monthly ($120 p.a.)
95%
Enjoy a 5-years fixed rate with great features such as rate lock, a partial interest offset facility, repayment pause and more
4.74%
5.09%
$600
$10 monthly ($120 p.a.)
95%
Borrow up to 80% of your home loan value.
4.59%
5.35%
$399
$8 monthly ($96 p.a.)
90%
Borrow up to $4 million on a competitive 5-year fixed rate
4.29%
4.87%
$0
$395 p.a.
95%
You can save on a host of Westpac products by packaging your 5-year fixed rate home loan.
6.84%
7.22%
$1,500
$12 monthly ($144 p.a.)
70%
SMSF investors can lock in their rate for 5 years.
4.49%
4.97%
$600
$8 monthly ($96 p.a.)
95%
A 5-year fixed rate that allows for extra repayments.
4.39%
4.99%
$0
$395 p.a.
95%
A competitive interest rate with a range of repayment choices.

Compare up to 4 providers

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