Lowest monthly mortgage rates for December 2019
Every month at Finder we analyse the mortgages in our database to find the home loans with the lowest interest rates.*
We've gathered up some of the market's lowest mortgage rates below. 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).
- Mortgages have a minimum loan amount of $200,000 or lower and a maximum loan amount of at least $500,000 (meaning that the average borrower will be eligible for the loan).
- Fixed rates have terms of between 1 and 5 years.
- Mortgages are currently available on Finder with rates correct at time of publication (updated every month).
Compare some of the market's lowest fixed and variable rates in December 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.|
|Teachers Mutual Bank Classic Home Loan - Owner Occupier||2.8% p.a.||3.29% 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||2.79% p.a.||2.93% 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.|
|loans.com.au Smart Home Loan - (Owner Occupier, P&I)||2.88% p.a.||2.9% p.a.|
|Lowest fixed investor rate||Interest rate||Comparison rate|
|UBank UHomeLoan - 3 Year Fixed Rate (Investor, P&I)||2.84% p.a.||3.59% p.a.|
|Tic:Toc Invest Fixed Rate Home Loan - 2 Year Fixed (Principal & Interest)||2.89% p.a.||3.24% p.a.|
|RACQ Bank Choices Package Fixed Loan - 3 Year $150k+ (Investor)||3% p.a.||4.54% p.a.|
|Bank of Melbourne Fixed Rate Home Loan - 2 Year Fixed (Owner Occupier, P&I) LVR above 80% New customers||3.09% p.a.||4.65% p.a.|
|ME Flexible Home Loan Fixed with Members Package - 2 Year Fixed Rate LVR <= 80% (Investor, P&I)||3.18% p.a.||3.9% p.a.|
|86 400 Fixed Rate Home Loan - 2 Year Fixed (Investor, P&I)||3.18% p.a.||3.66% p.a.|
|Greater Bank Great Rate Home Loan - 1 Year Fixed (Investor) P&I||3.19% p.a.||4.2% p.a.|
|MOVE Bank Lockit Home Loan - 1 Year Fixed (Investor)||3.19% p.a.||4.81% 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 - LVR ≤ 80% (Investor P&I)||3.09% p.a.||3.09% p.a.|
|Pacific Mortgage Group Standard Variable Home Loan - Investor, P&I||3.09% p.a.||3.09% p.a.|
|Well Home Loans Balanced Variable - Special (Investor, P&I)||3.12% p.a.||3.16% 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.|
|loans.com.au Smart Home Loan - (Investor)||3.19% p.a.||3.21% p.a.|
|Tic:Toc Invest Loan Variable Rate Home Loan - Principal & Interest||3.15% p.a.||3.29% p.a.|
|UBank UHomeLoan Variable Rate - Discount Offer for Investor Variable P&I Rate||3.24% p.a.||3.24% p.a.|
|Athena Variable Home Loan - Refinance (Investor, P&I)||3.24% p.a.||3.2% p.a.|
|Kogan Money Essential Variable Home Loan - LVR < 80% (Investor, P&I)||3.27% p.a.||3.28% 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
An Aussie mortgage broker can find the right home loan for you.
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Home Loan OffersImportant Information*
Online only cashback offer: Refinancers borrowing $250,000 or more can get a $4,000 cashback for their first application (Other terms, conditions and exclusions apply). Buyers and refinancers can get this competitive variable interest rate. Application fee waived for loans above $150,000.
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.
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