The biggest increases applied to five-year fixed home loans paying interest-only, increased by 30 basis points.

Other noteworthy increases included:

  • Residential Fixed P&I 2 Years: 15 basis point increase to 2.99% p.a. (4.41% p.a. comparison rate*)
  • Residential Fixed P&I 4 Years: 20 basis point increase to 3.69% p.a. (4.40% p.a. comparison rate*)
  • Investment Fixed P&I 2 Years: 10 basis point increase to 3.14% p.a. (4.91% p.a. comparison rate*)
  • Investment Fixed P&I 4 Years: 20 basis point increase to 3.89% p.a. (4.85% p.a. comparison rate*)

'Wealth Package' fixed home loans were also increased by similar margins. 

Exactly a year ago, the four year fixed rate for residential loans had an interest rate of 2.14% p.a. (3.89% p.a. comparison rate*).

A 155 basis point increase on a $400,000 home loan on a 30-year term could equate to $332 per month extra in interest paid.

Meanwhile, Australia's largest bank also slashed interest rates by 40 basis points on some variable loans including:

  • Investment Extra IO 70%: Now 3.05% p.a. (2.71% p.a. comparison rate*)
  • Investment Extra IO 80%: Now 3.15% p.a. (2.81% p.a. comparison rate*)
  • Investment Extra P&I 70%: Now 2.49% p.a. (2.50% p.a. comparison rate*)
  • Investment Extra P&I 80%: Now 2.59% p.a. (2.60% p.a. comparison rate*)

Advertisement

Buying a home or looking to refinance? The table below features home loans with some of the lowest interest rates on the market for owner occupiers.

Update resultsUpdate
Filters
LenderHome LoanInterest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees Max LVR Lump Sum Repayment Additional Repayments Split Loan Option TagsFeaturesLinkComparePromoted ProductDisclosure
6.04% p.a.
6.08% p.a.
$3,011
Principal & Interest
Variable
$0
$530
90%
4.6 Star Customer Ratings
  • Available for purchase or refinance, min 10% deposit needed to qualify.
  • No application, ongoing monthly or annual fees.
  • Quick and easy online application process.
Disclosure
5.99% p.a.
5.90% p.a.
$2,995
Principal & Interest
Variable
$0
$0
80%
Apply in minutes
  • No application or ongoing fees. Annual rate discount
  • Unlimited redraws & additional repayments. LVR <80%
  • A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank.
 Disclosure
6.09% p.a.
6.11% p.a.
$3,027
Principal & Interest
Variable
$0
$250
60%
  • No annual fees – None!
  • Get fast pre-approval
  • Unlimited additional repayments free of charge
 Disclosure
Important Information and Comparison Rate Warning

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of . View disclaimer.

Important Information and Comparison Rate Warning

Photo by mattinbgn on Wikimedia Commons



Ready, Set, Buy!


Learn everything you need to know about buying property – from choosing the right property and home loan, to the purchasing process, tips to save money and more!

With bonus Q&A sheet and Crossword!

Download Free
By subscribing you agree to our privacy policy