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Fixed rate demand hovers near record highs

Posted: 2 November 2017 8:44 am
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

Data indicated here is updated regularly
$
Loan purpose
Offset account
Loan type
Repayment 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
UBank UHomeLoan - 3 Year Fixed Rate (Owner Occupier, P&I)
2.14%
2.41%
$395
$0 p.a.
80%
A competitive fixed interest rate loan with no ongoing fees. Requires a 20% deposit.
HSBC Fixed Rate Home Loan - 2 Year Fixed Rate LVR 80% or below (Owner Occupier, P&I)
2.09%
2.98%
$0
$0 p.a.
80%
Lock in a competitive fixed rate for 2 years and buy your home with a 20% deposit.
Well Home Loans Balanced Fixed Home Loan - 2 Year (Owner occupier, P&I)
2.22%
2.21%
$250
$0 p.a.
90%
A low fixed mortgage with an optional 100% offset account. Not available for construction purposes.
Greater Bank Great Rate Home Loan - Discounted 1 Year Fixed with Family Pledge Home Loan - Up to 110% LVR (Owner Occupier)
1.99%
3.52%
$0
$0 p.a.
80%
Requires a family member to act as guarantor.
Get one of the lowest rates on the market with this fixed rate mortgage and borrow more with help from a family guarantor. NSW, QLD and ACT residents only.
Virgin Money Reward Me Fixed Rate Home Loan - 2 Year $300k+ Special offer (Owner Occupier, P&I)
2.29%
2.91%
$300
$10 monthly ($120 p.a.)
80%
$2,500 refinance cashback
Buy your home and lock in a low rate for the first two years. Get a $2,500 cashback when you switch to Virgin Money with a loan amount of $300,000 or more with an LVR up to 80%. You must apply by 28 August and settle by 30 October 2020.
ME Flexible Home Loan Fixed with Members Package - 2 Year Fixed Rate LVR ≤ 80% (Owner Occupier, P&I)
2.19%
3.36%
$0
$395 p.a.
80%
Lock in a competitive rate for owner occupiers for two years. Comes with a 100% offset account.
IMB Fixed Rate Home Loan - 3 Year Fixed (LVR 90% Owner Occupier, P&I, NSW and ACT borrowers only)
2.39%
3.08%
$449
$6 monthly ($72 p.a.)
90%
NSW and ACT customers only. 3 years fixed interest terms and free access to redraw facility online. Available with a 10% deposit.
Well Home Loans Balanced Fixed Home Loan - 2 Year (Investor, P&I)
2.39%
2.78%
$250
$0 p.a.
90%
A 2 year investor rate with principal and interest repayments. Optional offset account with a $10 monthly fee. Not available for construction purposes.
UBank UHomeLoan - 1 Year Fixed Rate (Investor, P&I)
2.29%
2.84%
$395
$0 p.a.
80%
Investors can enjoy flexible repayments and an easy application process with this pioneering online lender.
Suncorp Home Package Plus Fixed - 2 Year Fixed Rate Special Offer $150k+ LVR ≤90% (Owner Occupier, P&I)
2.29%
3.28%
$0
$375 p.a.
90%
A low fixed rate loan available for borrowers with 10% deposits. Refinance to an eligible Suncorp loan and get a cashback of $2,000 or $3,000, depending on your loan amount. Other conditions apply.
Well Home Loans Balanced Fixed Home Loan - 3 Year (Owner Occupier, P&I)
2.27%
2.23%
$250
$0 p.a.
90%
A low 3 year fixed rate for home buyers. Add a 100% offset account with a $10 monthly fee. Not available for construction purposes.
Heritage Bank Fixed Rate Home Loan - 2 Year Fixed Rate (Owner Occupier, P&I) New Customers Only
2.59%
4.26%
$600
$8 monthly ($96 p.a.)
95%
Get a partial offset account and the option to make interest-only repayments.
Newcastle Permanent Building Society  Premium Plus Package Fixed Rate - 1 Year Fixed (Owner Occupier, P&I)
2.39%
3.85%
$0
$395 p.a.
95%
$2,000 refinance cashback
Enjoy a competitive rate with no application fee for this package loan. $2,000 cashback for eligible refinancers borrowing $250,000 or more.
ME Flexible Home Loan Fixed with Members Package - 3 Year Fixed Rate LVR ≤ 80% (Owner Occupier, P&I)
2.19%
3.30%
$0
$395 p.a.
80%
Get a low 3 year fixed rate with a 100% offset account and package discounts.
Well Home Loans Balanced Fixed Home Loan - 3 Year (Investor, P&I)
2.44%
2.76%
$250
$0 p.a.
90%
A competitive 3 year investor rate with principal and interest repayments. Optional offset account with a $10 monthly fee. Not available for construction purposes.
UBank UHomeLoan - 1 Year Fixed Rate (Owner Occupier, IO)
2.29%
2.47%
$395
$0 p.a.
80%
A one year fixed rate offer with no ongoing bank fees.
Newcastle Permanent Building Society Real Deal Home Loan - Special Offer 1 (Owner Occupier, P&I)
2.59%
2.63%
$595
$0 p.a.
80%
$2,000 refinance cashback
$2,000 cashback for eligible refinancers borrowing $250,000 or more.
Heritage Bank Advantage Package - 1 Year Fixed (Owner Occupier, P&I) New Customers Only
2.59%
3.32%
$0
$350 p.a.
95%
Get a partial offset account and flexible repayments with this package loan.
Newcastle Permanent Building Society  Premium Plus Package Fixed Rate - 3 Year Fixed (Owner Occupier, P&I)
2.49%
3.68%
$0
$395 p.a.
95%
$2,000 refinance cashback
A two year fixed rate home loan with no application fees. $2,000 cashback for eligible refinancers borrowing $250,000 or more.
UBank UHomeLoan - 1 Year Fixed Rate (Owner Occupier, P&I)
2.14%
2.46%
$395
$0 p.a.
80%
Fix your mortgage for 1 year with a very competitive rate and no ongoing fees.
Virgin Money Reward Me Fixed Rate Home Loan - 3 Year $300k+ Special offer (Owner Occupier, P&I)
2.29%
2.87%
$300
$10 monthly ($120 p.a.)
80%
A competitive fixed rate mortgage available with a 10% deposit.
ME Flexible Home Loan Fixed with Members Package - 1 Year Fixed Rate LVR ≤ 80% (Owner Occupier, P&I)
2.19%
3.44%
$0
$395 p.a.
80%
Fix your rate for the first year and take advantage of package benefits. Comes with a 100% offset account.
Newcastle Permanent Building Society  Premium Plus Package Fixed Rate - 2 Year Fixed (Owner Occupier, P&I)
2.44%
3.76%
$0
$395 p.a.
95%
$2,000 refinance cashback
Enjoy a discounted fixed rate and the ability to package the loan with other financial products. $2,000 cashback for eligible refinancers borrowing $250,000 or more.
ME Flexible Home Loan Fixed - 2 Year Fixed Rate (Investor, P&I)
2.94%
4.70%
$0
$0 p.a.
80%
Lock in a competitive rate for 2 years, unlock package discounts and use a 100% offset account to minimise interest payments.
Newcastle Permanent Building Society Fixed Rate Home Loan - 2 Year Fixed (Owner Occupier, P&I)
2.54%
3.98%
$595
$0 p.a.
95%
$2,000 refinance cashback
Borrow up to 95% LVR of the value of the property you're buying and pay no ongoing fees. $2,000 cashback for eligible refinancers borrowing $250,000 or more.
UBank UHomeLoan - 3 Year Fixed Rate (Investor, P&I)
2.29%
2.74%
$395
$0 p.a.
80%
Pay no ongoing fees on this investment loan fixed for 3 years.
Virgin Money Reward Me Fixed Rate Home Loan - 2 Year LVR < 90 (Owner Occupier, P&I)
2.84%
3.01%
$300
$10 monthly ($120 p.a.)
90%
Enjoy a competitive fixed rate with no application fee.
UBank UHomeLoan - 5 Year Fixed Rate (Owner Occupier, P&I)
2.59%
2.53%
$395
$0 p.a.
80%
A five year fixed rate offer with no ongoing bank fees.
loading

Compare up to 4 providers

Compare the latest fixed rate home loans below

Data indicated here is updated regularly
$
Loan purpose
Offset account
Loan type
Repayment 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
UBank UHomeLoan - 3 Year Fixed Rate (Owner Occupier, P&I)
2.14%
2.41%
$395
$0 p.a.
80%
A competitive fixed interest rate loan with no ongoing fees. Requires a 20% deposit.
ME Flexible Home Loan Fixed with Members Package - 3 Year Fixed Rate LVR ≤ 80% (Owner Occupier, P&I)
2.19%
3.30%
$0
$395 p.a.
80%
Get a low 3 year fixed rate with a 100% offset account and package discounts.
IMB Fixed Rate Home Loan - 3 Year Fixed (LVR 90% Owner Occupier, P&I, NSW and ACT borrowers only)
2.39%
3.08%
$449
$6 monthly ($72 p.a.)
90%
NSW and ACT customers only. 3 years fixed interest terms and free access to redraw facility online. Available with a 10% deposit.
Newcastle Permanent Building Society  Premium Plus Package Fixed Rate - 3 Year Fixed (Owner Occupier, P&I)
2.49%
3.68%
$0
$395 p.a.
95%
$2,000 refinance cashback
A two year fixed rate home loan with no application fees. $2,000 cashback for eligible refinancers borrowing $250,000 or more.
UBank UHomeLoan - 3 Year Fixed Rate (Owner Occupier, IO)
2.29%
2.44%
$395
$0 p.a.
80%
A competitive 3 year fixed rate with no ongoing bank fees.
AMP Bank Professional Package Fixed Loan - 3 Year (Owner Occupier, P&I)
2.49%
3.13%
$0
$349 p.a.
90%
A package home loan with a sharp fixed rate and a 10% deposit option for low deposit borrowers.
Adelaide Bank SmartFix Home Loan - 3 Year Fixed Rate (Owner Occupier, P&I)
2.44%
2.89%
$375
$15 monthly ($180 p.a.)
95%
A three year fixed rate loan with 100% offset account.
Aussie Select Standard Fixed - 3 Year (Owner Occupier, P&I)
2.21%
3.33%
$0
$0 p.a.
95%
ANZ Breakfree Package Home Loan - 3 Year Fixed (Owner Occupier, P&I)
2.29%
3.89%
$0
$395 p.a.
90%
Pay no application fee and fix your interest for 3 years with this ANZ package home loan.
UBank UHomeLoan - 3 Year Fixed Rate (Investor, IO)
2.44%
2.78%
$395
$0 p.a.
80%
Pay no ongoing fees on this investment loan fixed for 3 years.
Aussie Select Basic Fixed Rate Home Loan - 3 Year Fixed LVR up to 80% (Owner Occupier, P&I)
2.21%
2.60%
$0
$0 p.a.
80%
Lock in a 3 year fixed rate with no upfront or ongoing fees.
UBank UHomeLoan - 3 Year Fixed Rate (Investor, P&I)
2.29%
2.74%
$395
$0 p.a.
80%
Pay no ongoing fees on this investment loan fixed for 3 years.
loading

Compare up to 4 providers

Compare the latest fixed rate home loans below

Data indicated here is updated regularly
$
Loan purpose
Offset account
Loan type
Repayment 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
UBank UHomeLoan - 1 Year Fixed Rate (Owner Occupier, P&I)
2.14%
2.46%
$395
$0 p.a.
80%
Refinance with UBanks low 1 year fixed rate offer. No application fee.
Greater Bank Great Rate Home Loan - Discounted 1 Year Fixed with Family Pledge Home Loan - Up to 110% LVR (Owner Occupier)
1.99%
3.52%
$0
$0 p.a.
80%
Requires a family member to act as guarantor.
Get one of the lowest rates on the market with this fixed rate mortgage and borrow more with help from a family guarantor. NSW, QLD and ACT residents only.
ME Flexible Home Loan Fixed with Members Package - 1 Year Fixed Rate LVR ≤ 80% (Owner Occupier, P&I)
2.19%
3.44%
$0
$395 p.a.
80%
Fix your rate for the first year and take advantage of package benefits. Comes with a 100% offset account.
UBank UHomeLoan - 1 Year Fixed Rate (Owner Occupier, IO)
2.29%
2.47%
$395
$0 p.a.
80%
A one year fixed rate offer with no ongoing bank fees.
Newcastle Permanent Building Society  Premium Plus Package Fixed Rate - 1 Year Fixed (Owner Occupier, P&I)
2.39%
3.85%
$0
$395 p.a.
95%
$2,000 refinance cashback
Enjoy a competitive rate with no application fee for this package loan. $2,000 cashback for eligible refinancers borrowing $250,000 or more.
Heritage Bank Advantage Package - 1 Year Fixed (Owner Occupier, P&I) New Customers Only
2.59%
3.32%
$0
$350 p.a.
95%
Get a partial offset account and flexible repayments with this package loan.
ING Fixed Rate Home Loan - 1 Year Fixed Rate (Owner Occupier with Orange Advantage)
2.34%
3.96%
$0
$299 p.a.
95%
Owner-occupiers can enjoy a discounted fixed rate, a rate lock feature and the ability to make additional repayments.
Newcastle Permanent Building Society Fixed Rate Home Loan - 1 Year Fixed (Owner Occupier, P&I)
2.49%
4.12%
$595
$0 p.a.
90%
$2,000 refinance cashback
Investors can take advantage of a short term fixed rate with no ongoing fees. $2,000 cashback for eligible refinancers borrowing $250,000 or more.
UBank UHomeLoan - 1 Year Fixed Rate (Investor, P&I)
2.29%
2.84%
$395
$0 p.a.
80%
Investors can enjoy flexible repayments and an easy application process with this pioneering online lender.
loading

Compare up to 4 providers

Compare the latest fixed rate home loans below

Data indicated here is updated regularly
$
Loan purpose
Offset account
Loan type
Repayment 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
HSBC Fixed Rate Home Loan - 2 Year Fixed Rate LVR 80% or below (Owner Occupier, P&I)
2.09%
2.98%
$0
$0 p.a.
80%
Lock in a competitive fixed rate for 2 years and buy your home with a 20% deposit.
Virgin Money Reward Me Fixed Rate Home Loan - 2 Year $300k+ Special offer (Owner Occupier, P&I)
2.29%
2.91%
$300
$10 monthly ($120 p.a.)
80%
$2,500 refinance cashback
Buy your home and lock in a low rate for the first two years. Get a $2,500 cashback when you switch to Virgin Money with a loan amount of $300,000 or more with an LVR up to 80%. You must apply by 28 August and settle by 30 October 2020.
ME Flexible Home Loan Fixed with Members Package - 2 Year Fixed Rate LVR ≤ 80% (Owner Occupier, P&I)
2.19%
3.36%
$0
$395 p.a.
80%
Lock in a competitive rate for owner occupiers for two years. Comes with a 100% offset account.
Heritage Bank Fixed Rate Home Loan - 2 Year Fixed Rate (Owner Occupier, P&I) New Customers Only
2.59%
4.26%
$600
$8 monthly ($96 p.a.)
95%
Get a partial offset account and the option to make interest-only repayments.
IMB Fixed Rate Home Loan - 2 Year Fixed (LVR 90% Owner Occupier, P&I, NSW and ACT borrowers only)
2.39%
3.14%
$449
$6 monthly ($72 p.a.)
90%
NSW and ACT customers only. 2 years fixed interest terms and free access to redraw facility online. Available with a 5% deposit.
Suncorp Home Package Plus Fixed - 2 Year Fixed Rate Special Offer $150k+ LVR ≤90% (Owner Occupier, P&I)
2.29%
3.28%
$0
$375 p.a.
90%
A low fixed rate loan available for borrowers with 10% deposits. Refinance to an eligible Suncorp loan and get a cashback of $2,000 or $3,000, depending on your loan amount. Other conditions apply.
Newcastle Permanent Building Society  Premium Plus Package Fixed Rate - 2 Year Fixed (Owner Occupier, P&I)
2.44%
3.76%
$0
$395 p.a.
95%
$2,000 refinance cashback
Enjoy a discounted fixed rate and the ability to package the loan with other financial products. $2,000 cashback for eligible refinancers borrowing $250,000 or more.
ANZ Breakfree Package Home Loan - 2 Year Fixed (Investor, P&I)
2.49%
4.53%
$0
$395 p.a.
90%
Fund your property portfolio with a low deposit package loan from ANZ. Bundle your loan with credit card and bank account for discounts.
ME Flexible Home Loan Fixed - 2 Year Fixed Rate LVR ≤ 80% (Owner Occupier, P&I)
2.34%
3.98%
$0
$0 p.a.
80%
Get a low fixed rate and pay no application or ongoing fees.
P&N Bank Fixed Home Loan - 2 Year (LVR ≤ 80%, Owner Occupier)
2.19%
3.57%
$395
$0 p.a.
80%
Enjoy protection from changing interest rates with a 2 year fixed rate loan.
AMP Bank Professional Package Fixed Loan - 2 Year (Owner Occupier, P&I)
2.19%
3.13%
$0
$349 p.a.
90%
Get a low fixed rate package with no application or settlement fee, that's available with a 10% deposit. Other fees and charges apply.
Aussie Select Basic Fixed Rate Home Loan - 2 Year Fixed LVR up to 80% (Owner Occupier, P&I)
2.21%
2.63%
$0
$0 p.a.
80%
Fix a low rate home loan for 2 years with Aussie Home Loans.
loading

Compare up to 4 providers

Compare the latest fixed rate home loans below

Data indicated here is updated regularly
$
Loan purpose
Offset account
Loan type
Repayment 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
UBank UHomeLoan - 5 Year Fixed Rate (Owner Occupier, P&I)
2.59%
2.53%
$395
$0 p.a.
80%
An online only home loan with a great 5 year fixed rate. Available for refinance and purchases.
ME Flexible Home Loan Fixed with Members Package - 5 Year Fixed Rate LVR ≤ 80% (Owner Occupier, P&I)
2.69%
3.37%
$0
$395 p.a.
80%
Fix your rate for 5 years and know exactly what your repayments will be for the fixed term. Take advantage of 100% offset account.
UBank UHomeLoan - 5 Year Fixed Rate (Owner Occupier, IO)
2.74%
2.59%
$395
$0 p.a.
80%
A fixed home loan with no ongoing fee.
AMP Bank Basic Package Fixed Loan - 5 Year (Owner Occupier, P&I)
4.06%
3.73%
$0
$0 p.a.
90%
UBank UHomeLoan - 5 Year Fixed Rate (Investor, P&I)
2.74%
2.83%
$395
$0 p.a.
80%
Lock in a 5 year fixed rate on your investment loan and pay no ongoing fees.
UBank UHomeLoan - 5 Year Fixed Rate (Investor, IO)
2.89%
2.89%
$395
$0 p.a.
80%
Forget about rate rises for 5 years and minimise repayments on your investment mortgage.
loading

Compare up to 4 providers

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