Historical Australian mortgage interest rates [updated]

See how Australian interest rates have fluctuated over time and compare today's rates.

Updated . What changed?

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On this page you can find the average standard variable home loan interest rate from 1959 until the present, plus more historic home loan rates and a graph showing the recent history of the official cash rate. Below that you can also find a selection of historic home loan rates by lender.

The key thing this data shows is that home loan rates right now are at their lowest point in the last 60 years.

Historic home loan rate averages over time

In the graphs below you can see the average rate for several loan types. For standard variable rates there is information going all the way back to 1959. For other rate types the earliest available data starts much later in time.

Using historical data to try and predict the future has been a strategy that many people have used. Investors have used past data to try and predict shares prices, historians have tried to information from the past to predict future social trends.

The same can be applied for home loan interest rates - you can analyse the past to see where in the economic cycle you currently stand with your mortgage.

The economic cycle is currently composed of peaks and troughs. When there is a peak, economic activity tends to be strong along with high interest rates. Likewise, a trough indicates low and weak economic activity with low interest rates to stimulate the economy. Generally, you would want to lock in your interest rate at its lowest.

The RBA cash rate over time

The Reserve Bank of Australia

Monetary policy is the Reserve Bank of Australia's responsibility. The policy decisions are made by the board with the objective of achieving inflation within 2 - 3%. Other objectives include:

  • Maintaining the financial system and Australia's currency
  • The goal of full employment in Australia
  • The safety and efficiency of the payments system
  • The wellbeing of the Australian economy and its people

How does the official cash rate affect my interest rate?

Banks and other lenders tend to add a margin to the official cash rate to get the rate at which they land to borrowers. If you have a variable rate loan then you lender will generally increase the interest rate when there is a rate rise and decrease it when there is a cut. However, financial iwestpacnstitutions are not required to pass on rise or cut in full. Find out more about the factors that cause lenders to move interest rates.

Learn how to find the best home loan for you

See historical interest rates sorted by financial institution below

Commonwealth Bank

DateStandard var. rateCash rateMargin
11/4/20165.602.003.60
2/3/20155.652.253.40
17/8/20146.152.503.65
22/6/20136.152.753.40
12/10/20126.603.253.35
19/12/20117.314.253.06
5/11/20107.814.753.06

More Commonwealth Bank home loans

Westpac

DateStandard var. rateCash rateMargin
11/4/20165.682.003.68
2/3/20155.702.253.45
8/8/20145.982.503.48
21/11/20135.982.503.48
21/09/20135.982.503.48

More Westpac home loans

ANZ

DateStandard var. rateCash rateMargin
11/4/20165.562.003.56
2/3/20155.632.253.38
25/03/20145.882.503.38
19/08/20135.882.503.38
1/10/20126.803.253.55

More ANZ home loans

NAB

DateStandard var. rateCash rateMargin
11/4/20165.602.003.60
2/3/20155.632.253.38
31/08/20145.882.503.38
17/12/20135.882.503.38
22/09/20135.882.503.38

More NAB home loans

St.George

DateStandard var. rateCash rateMargin
11/4/20165.692.003.69
2/3/20155.742.253.49
21/12/20145.992.503.49
29/05/20136.242.753.49
6/1/20127.424.253.17

More St.George home loans

AMP

DateStandard var. rateCash rateMargin
11/4/20165.732.003.73
2/3/20154.702.252.45
9/12/20146.002.503.50
5/12/20146.002.503.50

More AMP home loans

More rate statistics and information

If you're interested in learning more you can compare home loan interest rates on Finder, check out statistical information on current average rates or look at our monthly cheapest home loan rates tracker.

Compare some of today's home loan rates

Data indicated here is updated regularly
$
years
Name Product Interest Rate (p.a.) Comp. Rate^ Application Fee Ongoing Fees Max LVR Monthly Payment
Westpac Flexi First Option Home Loan
2.29%
2.72%
$0
$8 monthly ($96 p.a.)
95%
$577.55
Up to $3,000 refinance cashback.
A flexible and competitive variable rate loan. Eligible borrowers refinancing $250,000 or more can get $2,000 cashback per property plus a bonus $1,000 for their first application. Other conditions apply.
St.George Basic Home Loan
2.54%
2.56%
$0
$0 p.a.
80%
$596.91
Up to $4,000 refinance cashback. With this competitive variable rate loan from St.George, refinancers borrowing $250,000+ can get up $4,000 cashback and borrow up to 80% of the property's value. (Terms, conditions & exclusions apply).
HSBC Fixed Rate Home Loan
1.88%
2.98%
$0
$0 p.a.
80%
$546.6
Lock in a competitive fixed rate for 2 years and buy your home with a 20% deposit.
Macquarie Bank Basic Home Loan
2.49%
2.49%
$0
$0 p.a.
60%
$593.01
A competitive variable rate home loan for owner-occupiers. Requires a 40% deposit.
UBank UHomeLoan Variable Rate
2.34%
2.34%
$0
$0 p.a.
80%
$581.39
Enjoy flexible repayments, a redraw facility and the ability to split your loan. Plus, pay no application or ongoing fees.
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Important Information*
Logo for Westpac Flexi First Option Home Loan - Basic Variable Rate (Owner Occupier, P&I)
Westpac Flexi First Option Home Loan - Basic Variable Rate (Owner Occupier, P&I)

Up to $3,000 refinance cashback. A flexible and competitive variable rate loan. Eligible borrowers refinancing $250,000 or more can get $2,000 cashback per property plus a bonus $1,000 for their first application. Other conditions apply.

Logo for St.George Basic Home Loan - LVR 60% to 80% (Owner Occupier, P&I)
St.George Basic Home Loan - LVR 60% to 80% (Owner Occupier, P&I)

Up to $4,000 refinance cashback. With this competitive variable rate loan from St.George, refinancers borrowing $250,000+ can get up $4,000 cashback and borrow up to 90% of the property's value. (Terms, conditions & exclusions apply).

Logo for Athena Liberate Home Loan - 70% to 80% LVR Owner Occupier, P&I
Athena Liberate Home Loan - 70% to 80% LVR Owner Occupier, P&I

A competitive variable rate mortgage for owner occupiers $0 application and $0 ongoing fees. This interest rate falls over time as you pay off the loan.

Logo for Suncorp Back to Basics Home Loan - Better Together Special Offer $150k+ LVR ≤ 80% (Owner Occupier, P&I)
Suncorp Back to Basics Home Loan - Better Together Special Offer $150k+ LVR ≤ 80% (Owner Occupier, P&I)

Get a competitive variable interest rate with no application fee or ongoing fees.

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2 Responses

    Default Gravatar
    DAMIENJune 15, 2017

    Looking for NAB SVR mortgage rates (owner occupied) from Feb 2008 to Sept 2013.

      Default Gravatar
      JonathanJune 15, 2017

      Hi Damien!

      Thanks for the comment.

      Our available statistics are the ones shown above.

      You can contact NAB or RBA for your request of rates information.

      Hope this clarifies.

      Cheers,
      Jonathan

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