Media Release

In this low interest world, are fixed home loans dying?

  • Fixed home loans fall to a 21-month low
  • List of July 2018 out-of-cycle rate changes
  • reveals now might be a good time for mortgage holders to fix

12 July, 2018 - According to the latest Australian Bureau of Statistics (ABS) housing finance figures analysed by comparison site,, the percentage of fixed home loans issued in Australia has fallen to a 21-month low:

Money Expert at, Bessie Hassan said the RBA cash rate has been stagnant at 1.5% since August 2016.

“Over this period, the percentage of fixed loans on the market reached a high of 19% in August 2017, as Aussie homeowners jumped on board the low-interest bandwagon.

“Since then, the proportion of fixed loans had fallen back significantly to 12% which is around where it was when the cash rate first fell to 1.5%.

“The fact that the cash rate remains at a historical low with no change in almost two years, indicates that there’s less urgency among Aussie homeowners to lock in a rate. They’ve been riding this wave for a while now – however the tide could be turning.

“A rate rise is a matter of ‘when’ and not ‘if’ – with 84% of leading economists predicting the next cash rate move to be in a positive direction. With this in mind, now might be a good time to consider locking in your rate – especially given the number of out-of-cycle rate changes we’ve seen in recent weeks,” Ms Hassan said.

Out-of-cycle rate changes:

LenderChangeDate effective
Variable rate
Bank of QueenslandUp by 0.09% - 0.15%July 2
Heritage BankUp by 0.05% - 0.30%July 2
IMBDown by 0.20%July 2
QBANKUp by 0.06%July 4
Macquarie BankUp by 0.06% - 0.10%July 10
Fixed rate
Heritage BankDown by 0.14% - 0.20%July 2
The Rock Building SocietyDown by 0.09%July 5
MyStateDown by 0.09%July 5


Ms Hassan said even a small interest rate rise could hurt Aussies especially those already struggling to keep up with their mortgage repayments.

“With more than half of Australian mortgage holders already admitting they couldn’t handle a $100 rise in monthly repayments, it’s evident many Aussies are already faced with mortgage stress.

“Refinancing could save you thousands. Additionally, fixing could give you the added peace of mind you’ll be able to keep up with your mortgage repayments, regardless of any future rate changes,” she said.


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The information in this release is accurate as of the date published, but rates, fees and other product features may have changed. Please see updated product information on's review pages for the current correct values.

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