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August 2018 Home Loan Update: Top 5 Variable & Fixed Rates

With some economists predicting interest rate rises over the coming years, now could be a good time to compare some of the latest home loan offers.

See the top five mortgage products on Canstar’s database for standard and fixed rates, sorted by interest rate, and that have direct links to lenders’ websites.

Please note that these rates don’t take into account your credit history, so not everyone can qualify for the minimum advertised rate. Further eligibility criteria will be assessed and determined by the lender.

The loans below are based on residential home buyers, so if you’re looking for an investment property loan, here’s where to compare investment loans on our website.

Not sure what we mean by an advertised rate or a comparison rate? The home loan comparison rate is a percentage-based figure that represents the total cost per year for a loan of $150,000, including the advertised interest rate and the usual home loan fees.

*Comparison rate based on loan amount of $150,000. Read the Comparison Rate Warning.

Top interest rates for standard variable home loans

The table below displays products in Canstar’s database with links to lenders’ websites. The display is sorted by the advertised interest rate (lowest to highest), then provider name (alphabetically).

Source: Canstar. Based on residential variable home loans available for a loan amount of $350,000 at 80% LVR, and available for Principal and Interest repayments. 
*Comparison rate based on loan amount of $150,000. Read the Comparison Rate Warning.

 Compare Other Home Loans

Top interest rates for 1-year fixed home loans

The table below displays products in Canstar’s database with links to lenders’ websites. The display is sorted by the advertised interest rate (lowest to highest), then provider name (alphabetically).

Source: Canstar. Based on residential 1-year fixed rate home loans available for a loan amount of $350,000 at 80% LVR, and available for Principal and Interest repayments.

*Comparison rate based on loan amount of $150,000. Read the Comparison Rate Warning.

Top interest rates for 3-year fixed home loans

The table below displays products in Canstar’s database with links to lenders’ websites. The display is sorted by the advertised interest rate (lowest to highest), then provider name (alphabetically).

Source: Canstar. Based on residential 3-year fixed rate home loans available for a loan amount of $350,000 at 80% LVR, and available for Principal and Interest repayments.

*Comparison rate based on loan amount of $150,000. Read the Comparison Rate Warning.

Top interest rates for 5-year fixed home loans

The table below displays products in Canstar’s database with links to lenders’ websites. The display is sorted by the advertised interest rate (lowest to highest), then provider name (alphabetically).

Source: Canstar. Based on residential 5-year fixed rate home loans available for a loan amount of $350,000 at 80% LVR, and available for Principal and Interest repayments.

*Comparison rate based on loan amount of $150,000. Read the Comparison Rate Warning.

Of course, remember that getting the lowest interest rates isn’t everything! Be sure to look for the features that will make your loan work for you, not against you. In addition, it’s important to understand the features and limitations of any current home loan you may have. This should help you to carry out a more detailed comparison between your existing financial products and any new financial product you may be considering.

To find out what features you should be looking for in a home loan, read our Choosing A Home Loan Checklist.

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