The brains behind Macquarie's home loan offerings have been busy lately, with the investment banking giant having now shifted fixed rates five times in 2024.
In its latest move, Macquarie increased the interest rate on its three-year fixed rate home loan by 30 basis points, pulling it away from the near-market-leading level realised in early October.
As the chart below shows, the lender has offered owner-occupier borrowers with deposits or equity of at least 30% a multitude of three-year fixed rates this year.
These have ranged from 5.39% p.a. to 6.55% p.a., with the rate on the product sitting at 5.69% p.a. as of Tuesday morning.
Macquarie's latest mortgage rate move coincides with a recovery in bond yields, which tanked amid global market volatility in late July and early August.
Banks typically borrow money used to fund fixed rate home loans from global bond markets and, when bond yields are low, fixed rates are generally also low.
Though, lenders consider a multitude of factors when pricing their fixed rate line ups.
If you're hunting for a new fixed rate home loan, here are the latest rates on the table from the banking giant.
Macquarie's new fixed home loan rates for owner-occupiers
These rates are advertised on the bank's Basic home loan product for owner-occupiers making principal and interest repayments as of Tuesday, 15 October:
| Fixed rate period | LVR | Change | New rate | Comparison rate* |
|---|---|---|---|---|
| One year | <70% | +10bp | 5.85% | 6.14% |
| 70-80% | +10bp | 5.95% | 6.19% | |
| 80-95% | +10bp | 6.19% | 7.11% | |
| Two years | <70% | +30bp | 5.69% | 6.08% |
| 70-80% | +30bp | 5.79% | 6.14% | |
| 80-95% | +30bp | 6.29% | 7.03% | |
| Three years | <70% | +30bp | 5.69% | 6.04% |
| 70-80% | +30bp | 5.79% | 6.10% | |
| 80-95% | +30bp | 6.29% | 6.95% | |
| Four years | <70% | +30bp | 5.69% | 6.00% |
| 70-80% | +30bp | 5.79% | 6.07% | |
| 80-95% | +30bp | 6.29% | 6.88% | |
| Five years | <70% | +30bp | 5.69% | 5.97% |
| 70-80% | +30bp | 5.79% | 6.04% | |
| 80-95% | +30bp | 6.29% | 6.81% |
The lowest fixed rate currently available on the mortgage market appears to be offered by SWSBank, which promises a rate of 4.99% p.a. (6.15% p.a. comparison rate*) to eligible borrowers turning to its premium special three-year fixed rate loan.
Macquarie's new fixed home loan rates for property investors
Meanwhile, these are the new rates advertised on the bank's Basic home loan product for property investors as of Tuesday, 15 October:
| Fixed period | LVR | Rate type | Change | New rate | Comparison rate* |
|---|---|---|---|---|---|
| One year | <70% | P&I | +10bp | 5.99% | 6.33% |
| IO | +10bp | 6.09% | 6.52% | ||
| 70-80% | P&I | +10bp | 6.09% | 6.44% | |
| IO | +10bp | 6.19% | 6.63% | ||
| 80%-90% | P&I | +10bp | 6.49% | 7.23% | |
| Two years | <70% | P&I | +30bp | 5.85% | 6.27% |
| IO | +30bp | 5.99% | 6.46% | ||
| 70-80% | P&I | +30bp | 5.95% | 6.38% | |
| IO | +30bp | 6.09% | 6.56% | ||
| 80%-90% | P&I | +30bp | 6.19% | 7.09% | |
| Three years | <70% | P&I | +30bp | 5.85% | 6.23% |
| IO | +30bp | 5.99% | 6.41% | ||
| 70-80% | P&I | +30bp | 5.95% | 6.33% | |
| IO | +30bp | 6.09% | 6.51% | ||
| 80%-90% | P&I | +30bp | 6.19% | 6.99% | |
| Four years | <70% | P&I | +30bp | 5.85% | 6.19% |
| IO | +30bp | 5.99% | 6.36% | ||
| 70-80% | P&I | +30bp | 5.95% | 6.29% | |
| IO | +30bp | 6.09% | 6.47% | ||
| 80%-90% | P&I | +30bp | 6.19% | 6.90% | |
| Five years | <70% | P&I | +30bp | 5.85% | 6.15% |
| IO | +30bp | 5.99% | 6.32% | ||
| 70-80% | P&I | +30bp | 5.95% | 6.26% | |
| IO | +30bp | 6.09% | 6.43% | ||
| 80%-90% | P&I | +30bp | 6.19% | 6.82% |
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Lender Home Loan Interest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees Max LVR Lump Sum Repayment Additional Repayments Split Loan Option Tags Features Link Compare
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