Home Loan Interest Rate Update – Fixed Rates Are On The Rise

Over the past few months we have seen variable interest rates remain stable across the board. On the other hand we have seen fixed rates steadily increase as the Reserve Bank of Australia may be preparing for variable interest rate hikes as inflation begins to wane on the economy.

We have seen 1 year fixed rate increase by approximately 0.40% across most lenders. In a larger move upward we have seen 2,3 and 5 year fixed rates increase between 1% and 1.5% in the mortgage market. For example we could find a 3 year fixed rate at 1.84% just before Christmas and now they are hovering around 3.24%.

 

Loan Type Interest Rate Comparison Rate Compare    
Bank Variable $100K to $1 million 1.96% 1.96% Enquire Here  
Bank $1 million plus 1.96% 1.96% Enquire Here  
Bank Professional Package 1.99% 2.05% Enquire Here  
Bank Line of Credit 3.19% NA% Enquire Here  
Bank 1 Year Fixed 1.89% 2.34% Enquire Here  
Bank 2 Year Fixed 1.79% 2.84% Enquire Here  
Bank 3 Year Fixed 1.94% 3.10% Enquire Here  
Bank 5 Year Fixed 2.59% 3.15% Enquire Here  
Non Bank SMSF Self Managed Super Fund 3.45% 3.56% Enquire Here  
Please Note: that the above interest rates are only examples. Interest rates are subject to change and vary according to security type, property type, borrow amount against the properties value, loan amount, location, use and purpose. Please complete an online form so we can assess your commercial lending needs
 
 

If you have any questions about these announcements or interest rates, please feel free to contact us.

Calculate the cost of commercial lending please feel free to use one of our calculators at home loan calculators.

For more information regarding interest rates for home and investment loans for owner occupied and investment purposes please visit home loans website.

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