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Historical home loan interest rates in Australia
Here's a brief history of Australian home loan interest rates from 1959 until the present day.
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On this page you can find the average standard variable home loan interest rate from 1959 until the present. You can also see more historic home loan rates and a graph showing the recent history of the official cash rate and 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
| Date | Standard var. rate | Cash rate | Margin |
|---|---|---|---|
| 11/4/2016 | 5.60 | 2.00 | 3.60 |
| 2/3/2015 | 5.65 | 2.25 | 3.40 |
| 17/8/2014 | 6.15 | 2.50 | 3.65 |
| 22/6/2013 | 6.15 | 2.75 | 3.40 |
| 12/10/2012 | 6.60 | 3.25 | 3.35 |
| 19/12/2011 | 7.31 | 4.25 | 3.06 |
| 5/11/2010 | 7.81 | 4.75 | 3.06 |
More Commonwealth Bank home loans
Westpac
| Date | Standard var. rate | Cash rate | Margin |
|---|---|---|---|
| 11/4/2016 | 5.68 | 2.00 | 3.68 |
| 2/3/2015 | 5.70 | 2.25 | 3.45 |
| 8/8/2014 | 5.98 | 2.50 | 3.48 |
| 21/11/2013 | 5.98 | 2.50 | 3.48 |
| 21/09/2013 | 5.98 | 2.50 | 3.48 |
ANZ
| Date | Standard var. rate | Cash rate | Margin |
|---|---|---|---|
| 11/4/2016 | 5.56 | 2.00 | 3.56 |
| 2/3/2015 | 5.63 | 2.25 | 3.38 |
| 25/03/2014 | 5.88 | 2.50 | 3.38 |
| 19/08/2013 | 5.88 | 2.50 | 3.38 |
| 1/10/2012 | 6.80 | 3.25 | 3.55 |
NAB
| Date | Standard var. rate | Cash rate | Margin |
|---|---|---|---|
| 11/4/2016 | 5.60 | 2.00 | 3.60 |
| 2/3/2015 | 5.63 | 2.25 | 3.38 |
| 31/08/2014 | 5.88 | 2.50 | 3.38 |
| 17/12/2013 | 5.88 | 2.50 | 3.38 |
| 22/09/2013 | 5.88 | 2.50 | 3.38 |
St.George
| Date | Standard var. rate | Cash rate | Margin |
|---|---|---|---|
| 11/4/2016 | 5.69 | 2.00 | 3.69 |
| 2/3/2015 | 5.74 | 2.25 | 3.49 |
| 21/12/2014 | 5.99 | 2.50 | 3.49 |
| 29/05/2013 | 6.24 | 2.75 | 3.49 |
| 6/1/2012 | 7.42 | 4.25 | 3.17 |
AMP
| Date | Standard var. rate | Cash rate | Margin |
|---|---|---|---|
| 11/4/2016 | 5.73 | 2.00 | 3.73 |
| 2/3/2015 | 4.70 | 2.25 | 2.45 |
| 9/12/2014 | 6.00 | 2.50 | 3.50 |
| 5/12/2014 | 6.00 | 2.50 | 3.50 |
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
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Ask an Expert
Looking for NAB SVR mortgage rates (owner occupied) from Feb 2008 to Sept 2013.
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