Average home loan interest rates

Compare a selection of current, competitive interest rates from our database and check the monthly interest rate averages from the ABS.

The Australian Bureau of Statistics tracks the monthly averages for fixed and variable interest rates. This is a useful way to look at broad changes in interest rates across the market, but the rates on finder.com.au are a better example of current market offers. It always pays to compare as much as you can.

Here are some current Australian mortgage rates

Here are some of the lowest mortgage interest rates available through finder.com.au. These are mostly principal and interest owner-occupier loans.

ProductInterest rateComparison rate
UBank UHomeLoan Variable Rate - Discount offer for Owner Occupiers, P&I​3.59% p.a.3.59% p.a.
loans.com.au Essentials - Variable (Owner Occupier, P&I)
3.64% p.a.3.66% p.a.
HSBC Home Value Loan - (Owner Occupier P&I)​3.69% p.a.3.7% p.a.
Tic:Toc Live in Loan Variable Rate - Principal & Interest3.47% p.a.3.48% p.a.
Yellow Brick Road Rate Smasher Home Loan3.7% p.a.3.7% p.a.
loans.com.au Package Special - 3 Year Fixed (Owner Occupier, P&I)3.48% p.a.3.85% p.a.
Well Home Loans Balanced Variable - (Owner occupier, P&I)3.49% p.a.3.53% p.a.
NAB Base Variable Rate Home Loan - Principal and Interest (limited time special offer for owner occupiers only)3.99% p.a.4.03% p.a.
Tic:Toc Live in Loan Fixed Rate - 1 Year (Owner Occupier, P&I)3.39% p.a.3.56% p.a.
ING Fixed Rate Home Loan - 1 Year Fixed Rate (Owner Occupier with Orange Advantage)3.75% p.a.4.86% p.a.

Check out more detailed mortgage data on our home loans statistics page

The table above is just a small sample of current rates on the market. You can compare more below.

Compare some of today's home loan rates

Hit "load more" to see the full comparison table.

Rates last updated May 26th, 2019
Loan purpose
Offset account
Loan type
Repayment type
Your filter criteria do not match any product
Name Product Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment Short Description
$0 p.a.
Enjoy flexible repayments, a redraw facility and the ability to split your loan. Plus, pay no application or ongoing fees.
$10 monthly ($120 p.a.)
Home buyers can lock in a very competitive fixed interest rate for 2 years.
$10 monthly ($120 p.a.)
A competitive variable rate for home buyers with a 20% deposit. This product has a 100% offset account.
$375 p.a.
Get a very competitive 3 year fixed rate with low fees and only a 10% deposit.
$0 p.a.
Get a low interest rate and a mortgage with flexible, basic features. No application or ongoing fees. Requires a 30% deposit.
$395 p.a.
A low variable rate loan with a 100% offset account and package discounts.
$395 p.a.
Loans over $150000 get a discount off an already low fixed rate. Available for NSW, QLD and ACT residents only.
$10 monthly ($120 p.a.)
Get a competitive variable rate and a 100% offset account.
$0 p.a.
Investors with a 30% deposit can get this low rate loan to fund their property portfolio. Take advantage of split and redraw facilities.
$0 p.a.
Competitive, flexible rate mortgage with simple features and low fees. Low deposit option available.

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How much difference does a higher or lower interest rate make?

When you borrow money to finance the purchase of a home, banks don't just hand the funds out for free. Not only will you have to pay back the money you borrow, but you'll also have to repay the interest that accumulates on that principal amount.

When comparing home loans, checking out the current average home loan interest rate on this page gives you a quick and easy way to compare rates for different mortgages on the market at any given time.

Even a slight variation in interest rates can make thousands of dollars of difference over the life of a home loan. For example, let’s consider a $500,000 home loan with principal and interest repayments and a loan term of 25 years. The table below shows the overall cost of this loan with an interest rate of 3.75% p.a. and 4.00% p.a.

tyle="background-color: #18304b; color: #b9defe;" scope="col"Loan ALoan B
Interest rate4.00% p.a.3.75% p.a.
Loan amount$500,000$500,000
Monthly repayment amount$2,639.18$2,570.66
Total cost of loan$791,755.26$771,196.80
Total interest paid$291,755.26$271,196.80

As you can see, the 0.25% p.a. lower interest rate of Loan B results in a saving of more than $20,000 across the 25-year loan term. That clearly demonstrates just how important it is to get a competitive interest rate. Use our home loan repayment calculator to see how a higher or lower interest rate could affect your mortgage repayments.

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Home Loan Offers

Important Information*
Logo for UBank UHomeLoan Variable Rate - Discount offer for Owner Occupiers, P&I Borrowing over $200,000
UBank UHomeLoan Variable Rate - Discount offer for Owner Occupiers, P&I Borrowing over $200,000

Take advantage of a low-fee mortgage with a special interest rate of just 3.59% p.a. and a 3.59% p.a. comparison rate.

Logo for Athena Variable Home Loan - Refinance (Owner Occupier, P&I)
Athena Variable Home Loan - Refinance (Owner Occupier, P&I)

Low variable rate mortgage for owner occupiers looking to switch. Refinancers only.

Logo for RAMS Fixed Rate Home Loan - 2 Year Fixed Rate (Owner Occupier, P&I)
RAMS Fixed Rate Home Loan - 2 Year Fixed Rate (Owner Occupier, P&I)

Fix your interest rate for 2 years and lock in your repayments. Available with a 5% deposit.

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