Lowest monthly mortgage rates for October 2019
Every month at Finder we analyse the mortgages in our database to find the home loans with the lowest interest rates.*
Our selection criteria ensure that the loans listed here are relevant for the majority of Australian borrowers. The rates on this page meet the following criteria:
- Principal and interest loans have a maximum LVR of 80%, meaning you need a 20% deposit (or lower in some cases).
- Mortgages have a minimum loan amount of $200,000 or lower and a maximum loan amount of at least $500,000 (meaning that most borrowers will have a loan size that qualifies for the product).
- Owner occupier fixed rates have terms of between 1 and 5 years (we've picked any year for fixed investor rates due to a smaller set of products available).
- Mortgages are currently available on Finder with rates correct at time of publication (updated at the start of every month).
Compare some of the market's lowest fixed and variable rates for homebuyers and investors in October 2019
|Lowest variable rate||Interest rate||Comparison rate|
|Reduce Home Loans Low Rider Variable||2.69% p.a.||2.71% p.a.|
|Homestar Star Essentials Home Loan - $150K to $850K LVR up to 80% (Owner Occupier, P&I)||2.74% p.a.||2.77% p.a.|
|Freedom Lend Variable Home Loan - LVR <=80% (Owner Occupier, P&I)||2.79% p.a.||2.79% p.a.|
|G&C Mutual Bank First Home Premium Package||2.79% p.a.||2.79% p.a.|
|UBank UHomeLoan Variable Rate - Discount offer for Owner Occupiers, P&I Borrowing over $200,000||2.84% p.a.||2.84% p.a.|
|Athena Variable Home Loan - Refinance (Owner Occupier, P&I)||2.84% p.a.||2.8% p.a.|
|Well Home Loans Balanced Variable - Special (Owner occupier, P&I)||2.82% p.a.||2.86% p.a.|
|Tic:Toc Live in Loan Variable Rate - Principal & Interest||2.84% p.a.||2.98% p.a.|
|Suncorp Back to Basics - Better Together Special Offer (*now 3.18%, drops to 3.03% on 18 Oct) $150k+ LVR<=90% (Owner Occupier P&I)||3.03% p.a.||3.04% p.a.|
|loans.com.au Smart Home Loan (Owner Occupier, P&I)||2.88% p.a.||2.9% p.a.|
|Lowest fixed rate||Interest rate||Comparison rate|
|Well Home Loans Balanced Fixed Home Loan - 3 Year (Owner Occupier, P&I)||2.74% p.a.||2.84% p.a.|
|Kogan Money Essential Fixed Home Loan - 2 Year Fixed (Owner Occupier, P&I)||2.77% p.a.||3.14% p.a.|
|Greater Bank Great Rate Home Loan - Discounted 1 Year Fixed LVR ≤90% ($150K+ Owner Occupier)||2.79% p.a.||3.95% p.a.|
|Reduce Home Loans Home Owners Dream Fixed - 2 Year Fixed LVR 80% (Owner Occupier)||2.79% p.a.||3.06% p.a.|
|RACQ Bank Choices Package Fixed Loan - 3 Year $150k+ (Owner Occupier)||2.8% p.a.||4.16% p.a.|
|CUA Fixed Rate Home Loan - 3 Year Fixed (Owner Occupier, P&I)||2.98% p.a.||4.39% p.a.|
|Teachers Mutual Bank Fixed Option Home Loan - 1 Year (Owner Occupier)||2.98% p.a.||4.62% p.a.|
|ANZ Breakfree Package Home Loan - 3 Year Fixed (Owner Occupier, P&I)||2.98% p.a.||4.35% p.a.|
|Commonwealth Bank Wealth Package Fixed Home Loan - 2 Year Fixed (Owner Occupier, P&I)||2.99% p.a.||4.58% p.a.|
|UBank UHomeLoan - 1 Year Fixed Rate (Owner Occupier, P&I)||2.74% p.a.||3.61% p.a.|
|Lowest fixed investor rate||Interest rate||Comparison rate|
|RACQ Bank Choices Package Fixed Loan - 3 Year $150k+ (Investor)||3% p.a.||4.54% p.a.|
|Tic:Toc Invest Fixed Rate Home Loan - 2 Year Fixed (Principal & Interest)||2.94% p.a.||3.29% p.a.|
|UBank UHomeLoan - 3 Year Fixed Rate (Investor, P&I)||2.84% p.a.||3.77% p.a.|
|Reduce Home Loans Fixed Rate Wealth Maximizer - 3 Year Fixed LVR up to 80% (Investor, P&I)||3.19% p.a.||3.38% p.a.|
|Bank of Melbourne Fixed Rate Home Loan - 2 Year Fixed (Owner Occupier, P&I) LVR above 80% New customers||3.19% p.a.||4.79% p.a.|
|Well Home Loans Balanced Fixed Home Loan - 3 Year (Investor, P&I)||3.24% p.a.||3.19% p.a.|
|Greater Bank Ultimate Home Loan - 1 Year Fixed (Investor) P&I||3.29% p.a.||4.54% p.a.|
|ANZ Breakfree Package Home Loan - 2 Year Fixed (Investor, P&I)||3.29% p.a.||4.98% p.a.|
|Lowest variable investor rate||Interest rate||Comparison rate|
|Reduce Rate Slasher Offset Variable Home Loan - LVR up to 80% (Investor)||2.99% p.a.||3.02% p.a.|
|Freedom Lend Variable Home Loan - Special offer LVR <= 80% ≥ $50,000 (Investor, P&I)||3.09% p.a.||3.09% p.a.|
|UBank UHomeLoan Variable Rate -Discount Offer for Investor Variable P&I Rate||3.24% p.a.||3.24% p.a.|
|Well Home Loans Balanced Variable - Special (Investor, P&I)||3.12% p.a.||3.16% p.a.|
|Tic:Toc Invest Loan Variable Rate Home Loan - Principal & Interest||3.2% p.a.||3.33% p.a.|
|loans.com.au Smart Home Loan - (Investor)||3.19% p.a.||3.21% p.a.|
|Athena Variable Home Loan - Refinance (Investor, P&I)||3.24% p.a.||3.2% p.a.|
|State Custodians Low Rate Home Loan with Offset - LVR up to 80% (Investor, P&I)||3.15% p.a.||3.17% p.a.|
|Kogan Money Essential Variable Home Loan - LVR < 90% (Investor, P&I)||3.42% p.a.||3.43% p.a.|
|Auswide Bank Home Loan Plus with Freedom Package - Special Package Discount LVR <= 90% (Investor, P&I)||3.46% p.a.||3.86% p.a.|
*Our lowest variable and fixed rate home loans round-up is a monthly analysis of the cheapest loans in finder.com.au's database. The rates and other information in this page are correct at the time of publication and are subject to change. There may be lower rates on the market than the ones listed here.
Finder's low interest rate tracker
Rates change (even when they're fixed). But with this graph you can see the lowest rates on Finder each month. This helps you understand how rates fluctuate and also helps you consider whether a fixed or variable rate is a better option for you.
Find more information about home loan rates and statistics
What if I've already got a mortgage but my rate is really high?
Most Australians borrowers don't check their mortgage rates. And that means you could be paying thousands of extra dollars in interest every year – for no reason at all.
But while your mortgage is a debt you're stuck with for a long time, you can easily switch lenders. Simply find a lower rate, make sure the mortgage suits your needs and you're eligible for it then apply (you'll need financial and identification documents, of course). If your new lender accepts your application, they will handle the changeover with your new lender. And for a few hours' work, you've saved yourself a chunk of money.
Learn how to refinance to a cheaper rate and start saving on your mortgage repayments.
Compare and apply for a range of competitive mortgage offers below
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Home Loan OffersImportant Information*
UBank UHomeLoan Variable Rate - Discount offer for Owner Occupiers (*now 3.09%, drops to 2.84% on 29 Oct), P&I $200K+
Take advantage of a low-fee mortgage with a special interest rate of just 2.84% p.a. and a 2.84% p.a. comparison rate.
Low variable rate mortgage for owner occupiers looking to switch. Refinancers only.
Buy your home and lock in a low rate for the first two years. Available with a 10% deposit. Earn Velocity Frequent Flyer Points at settlement, monthly and every three years, plus extra bonus points for a limited time.
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