The current cheapest fixed and variable mortgages as RBA expected to hold fire in July
Lenders have taken large slices out of the interest rates of their fixed-rate home loan offerings recently as demand for the product rises.
The latest to do so was CUA, which will cut its one, two and three-year fixed-rates to 4.89% from Wednesday (June 26).
Borrowers can now secure one year-fixed rates closer to 4.5% than 5% with many also offering three-year fixed rates under 5% and even five-year fixed-rates just above 5%.
A number of lenders offer discounted variable rates below 5% - with conditions.
With the RBA likely to hold fire on rates when it meets next week, these are the lowest advertised variable and fixed mortgage rates based on listings on mortgage comparison websites: ratecity.com.au, Mozo.com.au, infochoice.com.au and finder.com.au as of June 24:
Lowest variable rate offerings:
Provider | Loan name | Rate | Comparison rate* |
State Custodians | State Custodians Peak Performance Offset Home Loan | 4.74% | 5.11% |
Loans.com.au | Blackboard special – purchases only | 4.75% | 4.77% |
UBank | UHomeloan – refinance only | 4.87% | 4.87% |
Lowest one-year fixed-rate offerings
Provider | Loan name | Rate | Comparison rate* |
Greater Building Society | Ultimate Home Loan Package | 4.54% | 5.49% |
Newcastle Permanent | Fixed Rate Home Loan | 4.59% | 5.71% |
UBank | UHomeLoan for refinancing | 4.68% | 5.10% |
Lowest three-year fixed-rate offerings
Provider | Loan name | Rate | Comparison rate* |
UBank | 3 Year Fixed Rate - Refinance Only | 4.73% | 4.97% |
Resi Home Loans | Flexi Fix - 3 Years Fixed Rate | 4.78% | 5.54% |
iMortgage.com.au | Fusion ProPack
| 4.79% | 5.33% |
*A comparison rate includes both the interest rate and the fees and charges relating to a loan, combined into a single percentage figure.
