Loan Type | Interest Rate | Loan to Value (Up to) | Quotes | |
---|---|---|---|---|
Variable Interest Rates | ||||
Variable to $1 million | 5.99% CPR 5.99% | 95% | Enquire | |
Variable Over $1 million | 5.99% CPR 6.01% | 95% | Enquire | |
Variable 100% Offset | 5.98% CPR 6.25% | 95% | Enquire | |
Line of Credit | 6.81% CPR 6.99% | 80% | Enquire | |
Vacant Land | 5.39% CPR 6.26% | 95% | Enquire | |
Fixed Interest Rates | ||||
1 Year Fixed | 5.84% CPR 6.03% | 95% | Enquire | |
2 Year Fixed | 5.54% CPR 5.95% | 95% | Enquire | |
3 Year Fixed | 5.24% CPR 6.24% | 95% | Enquire | |
4 Year Fixed | 5.49% CPR 6.24% | 95% | Enquire | |
5 Year Fixed | 5.49% CPR 6.17% | 95% | Enquire | |
7 Year Fixed | 6.59% CPR 6.68% | 95% | Enquire | |
10 Year Fixed | 6.94% CPR 6.97% | 95% | Enquire |
Home Loan Interest Rate Update: Stability in the Market as RBA Holds Steady
As of October 23, 2024, residential home loan interest rates in Australia are averaging approximately 6.15% for variable-rate loans and 5.90% for fixed-rate loans. This reflects the steady environment following the Reserve Bank of Australia’s (RBA) decision to maintain the official cash rate at 4.10%. Investment loan rates are slightly higher, with variable rates around 6.50% and fixed rates nearing 6.85%.
The RBA’s cautious approach to rate adjustments, aimed at balancing economic growth with inflation control, has contributed to a stable lending environment. This consistency is crucial for both homebuyers and investors as they navigate the current market.
Below is a summary of the current interest rates available:
Home Loans – Owner Occupied
Investment Property Loans
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