Today's Home Loans Rates in Australia

Updated: 14 Mar 2026, 03:40 am

Average Variable Rate

6.38%

Owner Occupied P&I

Average Fixed Rate

6.23%

3-year fixed

Best Available Rate

4.99%

Fixed • Owner Occupied

Total Products

5,024

Available in market

Most Competitive Lenders

Big 4 Banks Average

6.48%

Market Average

6.28%

Online Lenders Average

5.91%

1

Dnister

15 products

From

4.99%

Avg

5.56%

2

SWSbank

9 products

From

5.20%

Avg

5.58%

3

First Option Bank

24 products

From

5.24%

Avg

5.61%

4

Unloan

4 products

From

5.44%

Avg

5.66%

5

ORANGE CREDIT UNION LTD

21 products

From

5.29%

Avg

5.71%

Rate Comparison by Category

Variable vs Fixed

Variable

6.38%avg

1,670 products

Fixed

6.23%avg

3,354 products

Owner Occupied vs Investment

Owner Occupied

6.23%avg

2,524 products

Investment

6.34%avg

2,484 products

Principal & Interest vs Interest Only

P&I

6.14%avg

2,897 products

Interest Only

6.48%avg

2,063 products

Market Features Overview

51%

Products with Offset Account

7%

Products with Cashback Offers

$0

Average Cashback Amount

36%

Products with No Fees

(No monthly, annual, or ongoing fees)

Compare home loans

Data sourced from 5,024 home loan products

Analysis based on products supporting minimum $300K loan amounts over 25-year terms

The rates above are pulled daily from thousands of home loan products across the Australian market. Every figure you see, variable averages, fixed averages, lender comparisons, and best available rates, reflects what lenders are genuinely offering today. There is no need to check when this page was last updated; the data refreshes automatically every 24 hours.

The widget above breaks down the Australian mortgage market across the dimensions that actually matter for your decision. Here's how to read what you're seeing:

Variable vs Fixed averages show the typical rate across each loan type right now. Neither is universally better. Variable loans move with the RBA cash rate and suit borrowers who want flexibility, while fixed loans lock your rate for a set term (typically 1 to 5 years in Australia) and suit those who want repayment certainty.

Big 4 banks vs online lenders shows the premium you pay for borrowing with a major bank versus a competitive online or non-bank lender. This gap is real, consistent, and worth understanding before you apply anywhere.

Owner-occupied vs investment rates reflects how lenders price risk. Investment loans typically carry a slightly higher rate because lenders consider them higher risk than loans where you'll live in the property.

Most competitive lenders shows who is sharpest in the market right now. Not the biggest names, but the ones offering the best rates across their product range today.

Best available rate is the lowest rate currently offered anywhere in the market. This is a useful benchmark, but the rate available to you personally depends on your deposit, income, credit history, and loan size.

If you've been searching for a definitive Australian mortgage rate and getting different numbers everywhere, that's not a mistake. It's how the market works.

Unlike some countries where a single benchmark rate dominates (like the US 30-year fixed), Australian mortgage rates vary significantly across loan type, lender, borrower profile, and repayment structure. The "current rate" for a first home buyer with a 10% deposit at a major bank is genuinely different from the rate available to an investor refinancing with an online lender.

This is why the widget above shows ranges and averages across categories rather than a single number, because a single number would be misleading for most borrowers.

The rates you see in the market today are shaped by several forces working together:

The RBA cash rate is the foundation. When the Reserve Bank of Australia adjusts the official cash rate, which it reviews eight times per year, variable rate lenders typically follow within weeks. Fixed rates are less directly tied to the cash rate and more influenced by wholesale funding markets and lender expectations about future rate movements.

Lender competition plays a bigger role than most borrowers realise. Online and non-bank lenders consistently offer sharper rates than the major banks, not because they're taking on more risk, but because their lower overhead costs allow them to pass savings through. The gap between the big 4 average and the online lender average in the current market is meaningful over a 25-year loan term.

Your borrower profile determines where within the market range you'll land. Loan-to-value ratio (LVR), credit history, income stability, and loan size all affect what individual lenders will offer you. The best rate in the market and the best rate available to you are often different figures.

The live data above shows you where variable and fixed rates sit relative to each other today, but the decision goes beyond which number is lower.

Variable rates give you flexibility. You can make extra repayments, access an offset account, and benefit if rates fall. The trade-off is uncertainty; your repayments can rise if the RBA increases the cash rate.

Fixed rates give you certainty. Your repayment stays the same for the fixed term regardless of what the RBA does. The trade-off is rigidity; breaking a fixed rate early typically incurs significant break costs, and you may miss out if variable rates fall during your fixed period.

Many Australian borrowers use a split loan, fixing a portion of the loan while keeping the rest variable. This balances certainty with flexibility and is worth considering if you're unsure which direction rates are heading.

If you're purchasing an investment property, the rates in the owner-occupier column of the widget above don't apply to you. Investment loans are priced differently because lenders assess them as carrying higher default risk.

The rate premium for investment loans has varied over time but consistently sits above owner-occupier equivalents. If you're an investor, always filter or compare specifically for investment loan products. Comparing yourself against owner-occupier rates will give you a misleading picture of what's available.

The rate difference between major banks and online lenders shown in the widget is not a rounding error. It's a structural feature of the Australian mortgage market.

Major banks charge more because many borrowers default to them out of familiarity or inertia. Online and non-bank lenders compete aggressively on rate because rate is their primary differentiator. Both types are regulated, both offer legitimate loan products, and the quality of loan features is increasingly comparable.

If you're currently with a major bank and haven't reviewed your rate in the last two years, comparing against the online lender average shown above is a useful starting point for a refinancing conversation.

The best available rate in the market, shown in the widget, represents the market ceiling for competitive pricing. Getting close to it requires the right borrower profile and the right approach.

Compare across lender types, not just between major banks. The most competitive rates consistently come from outside the big 4.

Know your LVR. A deposit of 20% or more removes the need for Lenders Mortgage Insurance and opens up a wider range of competitive products.

Look at the comparison rate. A low headline rate with high ongoing fees can cost more over the life of the loan than a slightly higher rate with no fees. The comparison rate standardises this and gives a truer picture of cost.

Consider a mortgage broker. Brokers access rates from a wide panel of lenders and can sometimes negotiate rates not publicly advertised. If you're close to applying, a broker conversation is worth having before you commit anywhere.

Written by

Pravin Mahajan

Founder @ Bheja.ai | Mortgage Broker | Ex-CTO RateCity & CIMET

Pravin Mahajan is the Founder of Bheja.ai and an accredited Mortgage Broker (Credit Rep. 570637). Based in Sydney, he sits at the unique intersection of financial regulation and enterprise technology.

With over 30 years of experience, Pravin has architected the consumer platforms that millions of Australians rely on for daily financial and purchasing decisions. His career is defined by building high-scale systems that simplify complex choices:

• RateCity (Acquired by Canstar): As Chief Product & Technology Officer, Pravin led the tech transformation that culminated in the company's acquisition. He orchestrated "Australia’s First Home Loan Sale," a digital initiative that reached over 12 million people.
• CIMET: As CPTO, he built enterprise-grade infrastructure for energy and broadband comparison, scaling operations to support major B2B partners.
• Salmat (Lasoo): He architected digital catalogue systems used by 5.7 million monthly users, digitising the retail experience for brands like Target and Myer.
• Woolworths: Designed the real-time, secure "Pay at Pump" transaction infrastructure deployed Australia-wide.

Today, at Bheja.ai, Pravin combines this deep technical background with his Certificate IV in Finance and Mortgage Broking to build AI agents that don't just compare loans, but help Australians actively secure their financial future.