More borrowers choosing to fix their home loan rate

Adam Smith 13 September 2017 NEWS

percent lockFixed-rate cuts have enticed more borrowers to take on fixed-rate home loans.

New research from Mortgage Choice shows fixed-rate demand has risen to nearly a third of all home loans. Fixed rates accounted for 31.05% of all loans written through the brokerage in August, up from 29.63% in July.

Mortgage Choice chief executive, John Flavell, said demand for fixed rates was at its highest since December 2013, when the loans accounted for 33.06% of all home loan products written through the company.

“The growing popularity of fixed-rate mortgages is not a surprise. Recently, we have seen a number of Australia’s lenders cut the interest rates charged on some of their fixed-rate products. As a result, fixed-rate home loans are now very competitively priced, which has made them more attractive to homeowners who are looking for repayment security,” Flavell said.

Queenslanders were most likely to opt for fixed-rate products, with fixed rates accounting for 35.48% of all home loans, up from 28.08% in July. South Australia and New South Wales were next, where fixed-rate loans accounted for 34.40% and 33.66% of all loans, respectively.

Compare the latest fixed rate home loans below

Rates last updated August 16th, 2018
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Loan purpose
Offset account
Loan type
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Name Product Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment Short Description
3.89%
3.94%
$0
$0 p.a.
80%
A sharp fixed rate mortgage for home buyers who want to make interest-only payments. Buy your own home and keep your repayments under control for 2 years.
3.59%
4.14%
$395
$0 p.a.
80%
A one year fixed rate offer with no ongoing bank fees.
3.49%
4.57%
$0
$395 p.a.
90%
Loans over $150k get a discount off an already low fixed rate. Available for NSW, QLD and ACT residents only.
3.89%
4.24%
$0
$0 p.a.
80%
Fix your rate and minimise repayments for 2 years with this interest-only investor mortgage.
3.64%
3.79%
$0
$0 p.a.
80%
Apply online for this fixed rate, low-fee loan with redraw facilities and an optional offset account.
3.99%
4.14%
$0
$0 p.a.
70%
Competitive investor mortgage for borrowers with a 30% deposit.
3.59%
4.74%
$0
$395 p.a.
90%
Enjoy a competitive rate with no application fee for this package loan.
3.74%
4.01%
$395
$0 p.a.
80%
An online home loan offer with a fixed interest offer for 3 years.
3.94%
3.92%
$0
$0 p.a.
80%
Lock in your interest rate for 2 years and enjoy flexibility, an optional offset account and a fast online application process.
3.84%
4.17%
$0
$395 p.a.
80%
Lock in a competitive rate for owner occupiers for two years. Extra repayments up to $30,000 over the life of the fixed period can be made.
3.94%
3.94%
$0
$0 p.a.
90%
Lock in a short interest loan term with a low interest rate.
3.99%
5.17%
$600
$0 p.a.
90%
Competitive rates for fixed for 3 years with redraw facility.
3.99%
4.62%
$395
$0 p.a.
80%
Investors can enjoy flexible repayments and an easy application process with this pioneering online lender.
3.89%
3.94%
$0
$0 p.a.
90%
Borrow up to 90% of the value of the property you're buying, and pay no application fee.
3.69%
4.38%
$0
$0 p.a.
90%
A discounted 1 year fixed rate if your loan has an LVR under 80% and is more than $150k. NSW, QLD and ACT residents only.
3.69%
4.68%
$0
$395 p.a.
90%
Enjoy a discounted fixed rate and the ability to package the loan with other financial products.
3.69%
4.54%
$0
$395 p.a.
90%
A fixed rate loan with a 100% offset account and the option to make additional repayments. Loans over $150k receive a discounted rate. NSW, QLD and ACT residents only.
4.14%
3.96%
$0
$0 p.a.
80%
Investors can go from application to full approval in as little as 20 minutes with this innovative online lender.
3.99%
4.86%
$0
$0 p.a.
80%
Access a fee-free 100% offset account and pay no application or ongoing fees.
3.84%
4.53%
$0
$395 p.a.
90%
Enjoy discounts on banking products and insurance with this package loan. NSW, QLD and ACT residents only.
4.24%
4.00%
$0
$0 p.a.
80%
Buy an investment property and enjoy the certainty of a 3-year fixed rate with interest-only payments.
4.14%
4.81%
$0
$0 p.a.
80%
Pay no application fees and access a fee-free redraw facility with this fixed rate loan.
4.54%
4.65%
$0
$0 p.a.
90%
4.29%
4.26%
$0
$0 p.a.
95%
A competitive 3-year fixed rate loan with a high max insured LVR.
3.79%
5.04%
$595
$0 p.a.
90%
Investors can take advantage of a short term fixed rate with no application or ongoing fees.
3.79%
4.44%
$0
$0 p.a.
80%
Low fees and a reasonable fixed rate. This loan is only available to current and former employees of eligible Queensland government organisations.
4.04%
3.93%
$0
$0 p.a.
80%
Fix your rate for 1 year and make interest-only payments.
3.62%
4.49%
$0
$0 p.a.
80%
Get a competitive rate and avoid ongoing fees. This loan is only available to current and former employees of eligible Queensland government organisations.
4.33%
4.21%
$0
$0 p.a.
90%
4.36%
4.00%
$0
$0 p.a.
80%
This is a fixed rate loan for owner occupiers with few fees and a fast online approval process. Offset accounts are an optional extra.
4.49%
4.27%
$0
$0 p.a.
90%
Fixed rate loan with a 100% offset account and a 10% deposit option.

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