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

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

$
years
Name Product Interest Rate (p.a.) Comp. Rate (p.a.) Fees Monthly Payment

HSBC Fixed Rate Home Loan Package P&IHome 2Y Fixed≥ 20% Deposit

HSBC Fixed Rate Home Loan Package
1.88%
2.87%
  • App: $0
  • Ongoing: $390 p.a.
$547
$3,288 refinance cashback offer
Lock in a low fixed rate for 2 years and buy your home with a 20% deposit. Eligible refinancers borrowing $250,000 or more can get a $3,288 cashback. Terms and conditions apply.

Westpac Fixed Option Home Loan Premier Advantage Package P&IHome 2Y Fixed≥ 5% Deposit

Westpac Fixed Option Home Loan Premier Advantage Package
1.99%
3.48%
  • App: $0
  • Ongoing: $395 p.a.
$555
$3,000 refinance cashback
Lock in a low fixed rate for 2 years that allows you to make up to $30,000 in extra repayments and buy your home with a 5% deposit. $3,000 cashback for eligible refinancers. Apply by 30 November 2021. Terms and conditions apply.

Athena Variable Home Loan P&IHome≥ 40% Deposit

Athena Variable Home  Loan
1.99%
1.99%
  • App: $0
  • Ongoing: $0 p.a.
$555
Owner occupiers with 40% deposits or equity can get this competitive variable rate loan. No upfront or ongoing fees.

Nano Variable Home Loans P&IHome≥ 25% Deposit Refi Only

Nano Variable Home Loans
1.99%
1.99%
  • App: $0
  • Ongoing: $0 p.a.
$555
Switch to this competitive variable rate with zero fees. Requires a 25% deposit.

UBank UHomeLoan Fixed P&IHome 1Y Fixed≥ 20% Deposit

UBank UHomeLoan Fixed
1.79%
2.18%
  • App: $0
  • Ongoing: $0 p.a.
$540
Fix your mortgage for 1 year with a very competitive rate and no 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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