Competition is fierce in the home loan market right now. With the property market rebounding strongly from the economic impacts of COVID-19, lenders have slashed their home loan interest rates – with some having now fallen to less than 2%.
Below is a summary of the current home loan rates on Canstar’s database. To explore rates in more detail, compare them with Canstar’s home loan selector.
Latest Owner-Occupier Principal and Interest Home Loans
Rate Statistics, as at 6 April, 2021
| Variable | Fixed | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Basic | Standard | Package | Overall | 1 Year | 2 Year | 3 Year | 4 Year | 5 Year | |
| Average | 3.06% | 3.36% | 3.09% | 3.28% | 2.28% | 2.24% | 2.27% | 2.36% | 2.64% |
| Min | 2.14% | 1.99% | 1.99% | 1.99% | 1.69% | 1.74% | 1.75% | 1.94% | 2.19% |
| Max | 5.04% | 5.49% | 4.14% | 5.49% | 4.25% | 4.33% | 4.49% | 3.64% | 4.06% |
Source: www.canstar.com.au. Based on owner-occupier loans of $400,000, at 80% LVR with principal & interest repayments on Canstar’s database. Includes new-to-bank interest rates (including specials). Excludes honeymoon, intro-rate, and first home buyer-only home loans.
Latest Owner-Occupier Interest-Only Home Loans
Rate Statistics, as at 6 April, 2021
| Variable | Fixed | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Basic | Standard | Package | Overall | 1 Year | 2 Year | 3 Year | 4 Year | 5 Year | |
| Average | 3.50% | 3.82% | 3.59% | 3.74% | 2.99% | 3.00% | 3.01% | 3.31% | 3.42% |
| Min | 2.69% | 2.44% | 2.95% | 2.44% | 1.79% | 1.89% | 1.99% | 2.19% | 2.29% |
| Max | 4.52% | 5.39% | 4.35% | 5.39% | 4.55% | 4.63% | 4.79% | 5.32% | 5.32% |
Source: www.canstar.com.au. Based on owner-occupier loans of $400,000, at 80% LVR with interest-only payments on Canstar’s database. Includes new-to-bank interest rates (including specials). Excludes honeymoon, intro-rate, and first home buyer-only home loans.
Latest Investment Principal and Interest Home Loans
Rate Statistics, as at 6 April, 2021
| Variable | Fixed | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Basic | Standard | Package | Overall | 1 Year | 2 Year | 3 Year | 4 Year | 5 Year | |
| Average | 3.42% | 3.70% | 3.47% | 3.63% | 2.66% | 2.60% | 2.62% | 2.87% | 3.00% |
| Min | 2.43% | 1.99% | 1.99% | 1.99% | 2.09% | 1.99% | 2.09% | 1.99% | 2.49% |
| Max | 5.04% | 5.62% | 4.49% | 5.62% | 4.64% | 4.57% | 4.09% | 4.09% | 5.18% |
Source: www.canstar.com.au. Based on investment loans of $400,000, at 80% LVR with principal & interest repayments on Canstar’s database. Includes new-to-bank interest rates (including specials). Excludes honeymoon and intro-rate home loans.
Latest Investment Interest-Only Home Loans
Rate Statistics, as at 6 April, 2021
| Variable | Fixed | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Basic | Standard | Package | Overall | 1 Year | 2 Year | 3 Year | 4 Year | 5 Year | |
| Average | 3.59% | 3.98% | 3.76% | 3.88% | 2.85% | 2.83% | 2.84% | 3.07% | 3.20% |
| Min | 2.89% | 2.49% | 2.69% | 2.49% | 2.09% | 2.09% | 2.09% | 2.29% | 2.59% |
| Max | 5.14% | 5.87% | 5.53% | 5.87% | 4.84% | 4.77% | 5.07% | 4.39% | 5.38% |
Source: www.canstar.com.au. Based on investment loans of $400,000, at 80% LVR with interest-only payments on Canstar’s database. Includes new-to-bank interest rates (including specials). Excludes honeymoon and intro-rate home loans.
Compare Home Loans
Lowest interest rates for 1-year fixed home loans
The comparison table below displays some of the 1-year fixed rate investment home loan products on Canstar’s database with links to lenders’ websites available for a loan amount of $350,000 at 80% LVR in NSW, with Principal and Interest repayments. The results are sorted by ‘current rate’ (lowest to highest), then by provider name (alphabetically).
*Comparison rate based on a loan amount of $150,000. Read the Comparison Rate Warning.
Lowest interest rates for 3-year fixed home loans
The comparison table below displays some of the 3-year fixed rate investment home loan products on Canstar’s database with links to lenders’ websites available for a loan amount of $350,000 at 80% LVR in NSW, with Principal and Interest repayments. The results are sorted by ‘current rate’ (lowest to highest), then by provider name (alphabetically).
*Comparison rate based on a loan amount of $150,000. Read the Comparison Rate Warning.
Lowest interest rates for 5-year fixed home loans
The comparison tables below displays some of the 5-year fixed rate investment home loan products on Canstar’s database with links to lenders’ websites available for a loan amount of $350,000 at 80% LVR in NSW, with Principal and Interest repayments. The results are sorted by ‘current rate’ (lowest to highest), then by provider name (alphabetically).
*Comparison rate based on a loan amount of $150,000. Read the Comparison Rate Warning.
Main image source: Nattakorn_Maneerat/Shutterstock.com
Article updated by Tom Letts.