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What are the average interest rates on home loans?
How does your home loan stack up? If you’re keen to compare interest rates, we’ve taken a look at the rates on Canstar’s database, and found there’s a big difference between the highest and lowest rates.
11 Mar 2025
How does your home loan stack up? If you’re keen to compare interest rates, we’ve taken a look at the rates on Canstar’s database, and found there’s a big difference between the highest and lowest rates.
Whenever the Reserve Bank of Australia (RBA) raises the cash rate, banks and lenders tend to be quick to pass the change on to home loan borrowers, with most major financial institutions passing the hike on in full.
After years on hold, the RBA finally cut rates in February 2025. It’s unclear if there are further cuts on the horizon, but if you’re currently wondering whether it’s a good time to fix your home loan, or whether to wait and see if the RBA makes further cuts, some consideration of the pros and cons of fixing your home loan might assist.
Below is a summary of the current home loan rates for owner occupiers and investors on Canstar’s database. To explore in more detail, you can compare interest rates with Canstar’s home loan selector.
If you want to know more about investment loans, you can also compare investment home loans on our database.
Owner occupied
20% min deposit
Redraw facility
Owner occupied
10% min deposit
Redraw facility
Owner occupied
20% min deposit
Redraw facility
Owner occupied
20% min deposit
Redraw facility
Owner occupied
40% min deposit
Redraw facility
Latest owner-occupier principal and interest home loans
Rate statistics, as at 4 March 2025
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| Variable | ||||
|---|---|---|---|---|
| Basic | Standard | Package | Overall | |
| Average | 6.41% | 6.99% | 6.67% | 6.75% |
| Minimum | 5.74% | 5.64% | 5.88% | 5.64% |
| Maximum | 9.29% | 9.39% | 8.76% | 9.39% |
| Fixed | |||||
|---|---|---|---|---|---|
| 1 Year | 2 Year | 3 Year | 4 Year | 5 Year | |
| Average | 6.15% | 5.97% | 5.96% | 6.16% | 6.18% |
| Minimum | 5.39% | 5.39% | 5.49% | 5.59% | 5.59% |
| Maximum | 7.69% | 7.89% | 7.29% | 7.19% | 7.44% |
Source: www.canstar.com.au. Based on owner occupier loans available for $600,000, 80% LVR and interest-only payments in Canstar’s database. Excludes first home buyer only and introductory home loans; except for minimum variable rates which include introductory loans.
Latest owner-occupier interest-only home loans
Rate statistics, as at 10 February 2025
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| Variable | ||||
|---|---|---|---|---|
| Basic | Standard | Package | Overall | |
| Average | 7.04% | 7.60% | 7.11% | 7.34% |
| Minimum | 5.95% | 5.84% | 5.89% | 5.75% |
| Maximum | 9.29% | 9.42% | 8.81% | 9.42% |
| Fixed | |||||
|---|---|---|---|---|---|
| 1 Year | 2 Year | 3 Year | 4 Year | 5 Year | |
| Average | 6.58% | 6.46% | 6.44% | 6.58% | 6.65% |
| Minimum | 5.89% | 5.59% | 5.79% | 5.79% | 5.79% |
| Maximum | 8.19% | 8.44% | 7.79% | 7.69% | 7.84% |
Source: www.canstar.com.au. Based on owner occupier loans available for $600,000, 80% LVR and interest-only payments in Canstar’s database. Excludes first home buyer only and introductory home loans; except for minimum variable rates which include introductory loans.
Latest investment principal and interest home loans
Rate statistics, as at 4 March 2025
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| Variable | ||||
|---|---|---|---|---|
| Basic | Standard | Package | Overall | |
| Average | 6.65% | 7.27% | 6.91% | 7.01% |
| Minimum | 6.04% | 5.84% | 5.94% | 5.84% |
| Maximum | 9.29% | 9.53% | 9.38% | 9.53% |
| Fixed | |||||
|---|---|---|---|---|---|
| 1 Year | 2 Year | 3 Year | 4 Year | 5 Year | |
| Average | 6.34% | 6.19% | 6.16% | 6.37% | 6.38% |
| Minimum | 5.49% | 5.49% | 5.49% | 5.69% | 5.69% |
| Maximum | 7.94% | 8.19% | 7.49% | 7.49% | 7.59% |
Source: www.canstar.com.au. Based on investment loans available for $600,000, 80% LVR and principal & interest repayments in Canstar’s database. Excludes first home buyer only and introductory home loans; except for minimum variable rates which include introductory loans.
Latest investment interest-only home loans
Rate statistics, as at 4 March 2025
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| Variable | ||||
|---|---|---|---|---|
| Basic | Standard | Package | Overall | |
| Average | 6.95% | 7.60% | 7.20% | 7.32% |
| Minimum | 6.09% | 6.04% | 6.09% | 6.04% |
| Maximum | 9.29% | 9.53% | 9.38% | 9.53% |
| Fixed | |||||
|---|---|---|---|---|---|
| 1 Year | 2 Year | 3 Year | 4 Year | 5 Year | |
| Average | 6.53% | 6.39% | 6.37% | 6.56% | 6.57% |
| Minimum | 5.69% | 5.49% | 5.69% | 5.79% | 5.79% |
| Maximum | 8.09% | 7.94% | 7.89% | 7.89% | 7.94% |
Source: www.canstar.com.au. Based on investment loans available for $600,000, 80% LVR and interest-only payments in Canstar’s database. Excludes first home buyer only and introductory home loans; except for minimum variable rates which include introductory loans.
What is the average mortgage size in Australia?
According to the latest key lending indicators from the Australian Bureau of Statistics, the average mortgage size Australia-wide sits at $666,000.
What is the average mortgage size in your state?
Based on ABS figures from the December 2024 quarter, the average mortgage size in each state is as follows:
- The ACT: $650,000
- New South Wales: $811,000
- The NT: $465,000
- Queensland: $635,000
- South Australia: $580,000
- Tasmania: $473,000
- Victoria: $632,00
- Western Australia: $599,000
Main image source: fizkes/Shutterstock. Original reporting by Amanda Horswill
This article was reviewed by our Editor-in-Chief Nina Rinella before it was updated, as part of our fact-checking process.
Owner occupied
40% min deposit
Redraw facility
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