Fixed rate demand hovers near record highs

Adam Smith 2 November 2017

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 February 20th, 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
3.49%
4.49%
$0
$375 p.a.
90%
Discount off an already competitive interest rate for loans over $150k. NSW, QLD and ACT residents only.
3.65%
4.84%
$0
$395 p.a.
90%
A 2 years fixed platinum package that has $0 application and a loan redraw facility.
3.94%
3.71%
$0
$0 p.a.
80%
Apply online for this fixed rate, low-fee loan with redraw facilities and an optional offset account.
3.88%
3.81%
$0
$0 p.a.
95%
A competitive 3-year fixed rate loan with a high max insured LVR.
3.89%
5.40%
$0
$395 p.a.
95%
A package investment loan with a competitive, discounted interest rate and 0 application fees.
3.99%
4.62%
$395
$0 p.a.
80%
Fix your interest rate and pay principal and interest repayments on your investment.
3.69%
4.86%
$0
$395 p.a.
90%
A special rate for first home buyers buying residential property and borrowing over $150K. 350K NAB Rewards Points offer available. Terms and conditions apply.
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.
3.89%
4.72%
$445
$6 monthly ($72 p.a.)
90%
3 years fixed interest terms and free access to redraw facility online.
3.84%
4.83%
$0
$0 p.a.
80%
Get a competitive 2-year fixed rate with no application or ongoing fees.
3.69%
4.47%
$0
$375 p.a.
90%
Discount off an already competitive 2 year fixed rate for loans over $150k. NSW,QLD and ACT residents only.
3.69%
4.00%
$0
$350 p.a.
95%
Fix your rate for 3 years and borrow up to 95% LVR.
4.34%
4.87%
$0
$0 p.a.
80%
Lock in a low 2-year fixed rate with this interest-only investment loan.
3.84%
4.21%
$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.
3.74%
4.58%
$0
$395 p.a.
90%
A two year fixed rate home loan with application fees.
3.88%
4.89%
$0
$395 p.a.
95%
A fixed rate package with flexible repayment options. 350K NAB Rewards Points offer available. Terms and conditions apply.
3.74%
4.44%
$0
$375 p.a.
90%
Enjoy discounts on banking products and insurance with this package loan. NSW, QLD and ACT residents only.
3.99%
4.77%
$0
$0 p.a.
80%
A competitive 3 year fixed rate with a redraw facility and split loan options, plus no application fee.
4.38%
4.93%
$0
$0 p.a.
80%
Fix your rate for 1 year and make interest-only payments.
4.59%
5.01%
$0
$395 p.a.
95%
A competitive loan with flexible features.
350K NAB Rewards Points offer available. Terms and conditions apply.
4.44%
3.94%
$0
$0 p.a.
80%
This is a fixed rate loan for owner occupiers with few fees and a fast online approval process. Offset accounts are an optional extra.
3.88%
3.82%
$0
$0 p.a.
80%
3.88%
4.88%
$0
$395 p.a.
95%
Refinance from your existing loan and get a $1,250 rebate. Lock in a discounted fixed rate with a low service fee.
3.85%
4.94%
$0
$395 p.a.
95%
Fix your rate for 2 years and know your repayments giving you ease in budgeting.
3.87%
3.87%
$0
$10 monthly ($120 p.a.)
90%
Get a competitive interest rate for 3 years and a discounted variable rate when the fixed period ends.
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.
3.99%
4.99%
$0
$395 p.a.
95%
A package home loan with fee free extra repayments available during the fixed term.
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.
3.85%
4.95%
$0
$395 p.a.
95%
A discounted package rate for owner occupiers with the ability to package a Qantas rewards earning Amplify credit card. $1,500 cashback available for refinancers. Conditions apply.
3.79%
4.99%
$600
$8 monthly ($96 p.a.)
95%
Enjoy a 2-year fixed rate with interest-only options and a partial offset account.

Compare up to 4 providers

Compare the latest fixed rate home loans below

Rates last updated February 20th, 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%
4.44%
$0
$375 p.a.
90%
Enjoy discounts on banking products and insurance with this package loan. NSW, QLD and ACT residents only.
3.69%
4.00%
$0
$350 p.a.
95%
Fix your rate for 3 years and borrow up to 95% LVR.
3.94%
4.79%
$0
$0 p.a.
95%
A low 3-year fixed rate with the option to split your loan for free.
3.79%
4.77%
$0
$395 p.a.
90%
3 years fixed platinum package with a low interest rate and $0 application fee.
3.88%
3.82%
$0
$0 p.a.
80%
3.88%
3.81%
$0
$0 p.a.
95%
A competitive 3-year fixed rate loan with a high max insured LVR.
3.74%
4.58%
$0
$395 p.a.
90%
A two year fixed rate home loan with application fees.
3.89%
4.72%
$445
$6 monthly ($72 p.a.)
90%
3 years fixed interest terms and free access to redraw facility online.
3.94%
4.84%
$0
$395 p.a.
95%
Receive discounts on interest rates with the Choice Package.
350K NAB Rewards Points offer available. Terms and conditions apply.
3.99%
4.77%
$0
$0 p.a.
80%
A competitive 3 year fixed rate with a redraw facility and split loan options, plus no application fee.
3.87%
3.87%
$0
$10 monthly ($120 p.a.)
90%
Get a competitive interest rate for 3 years and a discounted variable rate when the fixed period ends.
4.32%
3.85%
$0
$0 p.a.
80%
A fixed rate loan with free redraws, few ongoing fees. Apply online with a fast approval process.
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.
4.04%
5.05%
$600
$8 monthly ($96 p.a.)
95%
Flexible fixed rate home loan which will allow you to take break from repayments if you're ahead of scheduled repayments.
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.
4.09%
5.08%
$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%
Enjoy a 3-year fixed rate along with additional features.
3.94%
4.90%
$0
$395 p.a.
95%
A 3 years fixed rate that allows borrowers to borrow from $150000 up to $10000000.
4.09%
4.93%
$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.
3.89%
4.51%
$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 February 20th, 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
3.49%
4.49%
$0
$375 p.a.
90%
Discount off an already competitive interest rate for loans over $150k. NSW, QLD and ACT residents only.
3.99%
4.62%
$395
$0 p.a.
80%
Fix your interest rate and pay principal and interest repayments on your investment.
3.94%
3.71%
$0
$0 p.a.
80%
Apply online for this fixed rate, low-fee loan with redraw facilities and an optional offset account.
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.
4.29%
4.93%
$445
$6 monthly ($72 p.a.)
90%
Lock in a rate for one year and get the ability to make additional repayments for 12 months without penalty.
3.99%
5.25%
$600
$8 monthly ($96 p.a.)
95%
Enjoy a low rate fixed home loan with the ability to borrow up to 95% of the property value.
350K NAB Rewards Points offer available. Terms and conditions apply.
4.11%
4.01%
$0
$0 p.a.
80%
Enjoy a fast application process and flexible repayment options with this fixed rate investment loan.
4.08%
4.18%
$0
$198 p.a.
80%
Borrow up to 80% LVR with no application fee and ongoing fees.
4.14%
5.26%
$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.
4.14%
5.28%
$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.
3.99%
4.96%
$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.
4.39%
5.79%
$600
$8 monthly ($96 p.a.)
95%
A competitive fixed rate home loan with extra repayments available.
5.99%
6.72%
$1,500
$12 monthly ($144 p.a.)
70%
Borrow from $100000 up to $2000000.
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 February 20th, 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
3.65%
4.84%
$0
$395 p.a.
90%
A 2 years fixed platinum package that has $0 application and a loan redraw facility.
3.69%
4.47%
$0
$375 p.a.
90%
Discount off an already competitive 2 year fixed rate for loans over $150k. NSW,QLD and ACT residents only.
3.84%
4.83%
$0
$0 p.a.
80%
Get a competitive 2-year fixed rate with no application or ongoing fees.
3.69%
4.86%
$0
$395 p.a.
90%
A special rate for first home buyers buying residential property and borrowing over $150K. 350K NAB Rewards Points offer available. Terms and conditions apply.
3.89%
4.87%
$0
$0 p.a.
90%
Enjoy a low interest rate and borrow up to 90% (with LMI) of your property's value.
4.08%
4.17%
$0
$198 p.a.
95%
3.75%
4.78%
$445
$6 monthly ($72 p.a.)
90%
Fixed home loan.
3.84%
4.21%
$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.
3.98%
5.13%
$600
$8 monthly ($96 p.a.)
95%
A fixed rate home loan with additional repayment options.
350K NAB Rewards Points offer available. Terms and conditions apply.
4.29%
4.05%
$0
$0 p.a.
80%
This fixed rate investor loan has limited fees and flexible repayment options. 100% online application process.
3.99%
4.99%
$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.
3.85%
4.95%
$0
$395 p.a.
95%
A discounted package rate for owner occupiers with the ability to package a Qantas rewards earning Amplify credit card. $1,500 cashback available for refinancers. Conditions apply.
3.88%
4.88%
$0
$395 p.a.
95%
Refinance from your existing loan and get a $1,250 rebate. Lock in a discounted fixed rate with a low service fee.
4.14%
5.16%
$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
4.08%
5.16%
$600
$8 monthly ($96 p.a.)
95%
Get the stability of a 2-year fixed rate with the flexibility of great features.
Gateway Credit Union Investment Land Fixed - 2 Years
4.59%
5.57%
$200
$0 p.a.
80%

Compare up to 4 providers

Compare the latest fixed rate home loans below

Rates last updated February 20th, 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%
4.25%
$0
$0 p.a.
90%
A low-fee fixed rate home loan with a redraw facility. NSW, QLD and ACT residents only.
4.29%
4.74%
$445
$6 monthly ($72 p.a.)
90%
Borrow up to 90% of your home’s value and lock in your rate for 5 years.
4.54%
4.04%
$0
$0 p.a.
80%
Get quick online approval for Tic:Toc's fixed rate owner occupier home loan. Low fees, flexible repayments.
4.59%
4.35%
$0
$198 p.a.
95%
4.59%
5.01%
$0
$395 p.a.
95%
A competitive loan with flexible features.
350K NAB Rewards Points offer available. Terms and conditions apply.
4.64%
4.27%
$0
$0 p.a.
80%
This fixed rate investment loan has a competitive interest rate, limited fees and flexible repayment options. Apply online and get quick approval.
4.64%
4.89%
$445
$6 monthly ($72 p.a.)
95%
Enjoy the low ongoing fee and borrow up to 95%.
4.69%
5.14%
$600
$8 monthly ($96 p.a.)
95%
A flexible five year fixed rate home loan.
4.59%
5.05%
$0
$395 p.a.
95%
A discounted rate and fee waivers are available with this loan.
4.34%
5.00%
$600
$8 monthly ($96 p.a.)
95%
A fixed home loan rate from Commonwealth Bank.
4.44%
5.06%
$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
4.19%
4.83%
$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.
5.89%
6.39%
$350
$10 monthly ($120 p.a.)
70%
Fix your rate for 5 years and pay no application fee.
4.19%
4.90%
$0
$395 p.a.
95%
A competitive interest rate with a range of repayment choices.

Compare up to 4 providers

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