March home loan interest rate update
It is likely that the RBA will leave interest rates unchanged at least for the next six months,” Mr Colhoun told Business Insider.
However, NAB is forecasting weaker than expected economic growth in 2018.
“This could see the RBA considering a further cut to interest rates late in 2017,” said Mr Colhoun.
Senior economist at UBS, Scott Haslem said rates could move higher early in 2017.
“The recent re-acceleration in housing lending and prices raises the risk the current record low cash rate might now just be too low.”
Economist Kristina Clifton from Commonwealth Bank expects no change to rates this year.
“The cash rate is unlikely to move any lower,” said Ms Clifton, “we expect the cash rate to remain at 1.5 per cent throughout 2017.”
What are the average home loan interest rates in Australia?
Infochoice reports that the average standard variable home loan rate is now 4.74 per cent (March 2017).
The average three year fixed home loan rate is 4.28 per cent in March 2017.
What are the lowest home loan interest rates in Australia?
The lowest home loan interest rates now available from Australian lenders are well below four per cent.
The lowest standard variable home loan rate is 3.69 per cent from HSBC’s Premier Variable Rate Loan – Owner Occupied and HSBC’s Premier Home Smart Loan – Owner Occupied.
The lowest discount variable home loan rate is 3.49 per cent from Mortgage House’s Pure & Simple Summer Special.
The lowest three year fixed home loan rate is 3.64 per cent from Morgan Brooks DIRECT’s Fixed 3 year combination variable home loan.
You can research and compare home loans from all of Australia’s major lenders here.