Home Mortgage News June Rate Watch: Lowest fixed rates

June Rate Watch: Lowest fixed rates

Published on 17 Jun, 2020

Some home loans have fixed rates near the lower end of 2%

Some home loans have fixed rates near the lower end of 2%

Australians who are planning to take advantage of the low interest-rate environment by getting a fixed rate could be in for a real treat, with the lowest mortgage costs in the market nearing the tail end of 2%.

According to Your Mortgage's Home Loan Comparison Tool, ING offers the lowest rate for a fixed home loan at 2.09%. Take note, however, that this is only for a two-year fixed term. This rate is being offered under ING's Fixed Rate Home Loan Orange Advantage.

ANZ's two-year fixed home loan under its BreakFree Package has a rate of 2.19%. This mortgage product offers rate discounts on nominated loan accounts and optional discounts on insurance. Check out the features of the loan by clicking here.

Adelaide Bank also has one of the lowest fixed rates in the market right now. Its three-year fixed term has a rate of 2.29%, offered under its SmartSaver product.

Bankwest offers a close rate of 2.33% for its three-year fixed home loan. Its Complete Home Loan Package's main selling point is the high maximum loan-to-value ratio at 90%.

You can check other fixed mortgage options by using Your Mortgage's Home Loan Comparison Tool.

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The entire market was not considered in selecting the above products. Rather, a cut-down portion of the market has been considered. Some providers' products may not be available in all states. To be considered, the product and rate must be clearly published on the product provider's web site. Savings.com.au, InfoChoice.com.au, YourMortgage.com.au, YourInvestmentPropertyMag.com.au, and Performance Drive are part of the InfoChoice Group. In the interest of full disclosure, the InfoChoice Group is associated with the Firstmac Group. Read about how Infochoice Group manages potential conflicts of interest, along with how we get paid.

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Comparison Rate Warning and Base Criteria

For home loans, the base criteria include a $500,000 loan amount over 30 years. These rates are only examples and may not include all fees and charges.

*The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

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Monthly repayment figures are estimates that exclude fees. These estimates are based on the advertised rates for the specified term and loan amount. Actual repayments will depend on your circumstances and interest rate changes.

Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you.

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Rates and product information should be confirmed with the relevant credit provider. For more information, read YourMortgage.com.au’s Financial Services and Credit Guide (FSCG).