You won’t believe the lowest home loan rate in Aus

The lowest home loan rates in Australia are continuing to drop. Already home buyers are enjoying the cheapest home loan rates in Australian history and they are getting cheaper. Right now is a great time to grab a bargain priced home loan and lock in the savings.

 

What is the average standard variable rate home loan?

 

The Standard Variable Rate mortgage is the most popular type of home loan in Australia. Right now, in January 2017, the average standard variable rate in the Australian mortgage market is 4.62 per cent. For an average $300,000 mortgage over 25 years, that translates to repayments of $1,688.00 per month.

 

What is the average three year fixed home loan rate?

 

The three year fixed rate is the most popular fixed term for home loans in Australia. Right now, in January 2017, the average three year fixed home loan rate is 4.21 per cent. For an average $300,000 mortgage over 25 years, that translates to monthly repayments of $1,618.50.

 

What is the lowest standard variable rate home loan in Australia?

 

In January 2017, the lowest standard variable rate in the Australian mortgage market is an amazing 3.25 per cent from HomeStar’s Owner Occupied mortgage product. The 3.25 per cent rate is a six month honeymoon rate that reverts to HomeStar’s ongoing variable rate of 3.74 per cent. On a $300,000, 25 year home loan that equals monthly repayments of just $1,461.95.

 

Other low variable home loan rates now available include:

HomeStar’s Basic Refinance loan with a variable rate of 3.36 per cent.

 

Mortgage House’s Pure & Simple 30 loan with a variable rate currently set at 3.54 per cent.

 

HSBC’s Home Value Loan currently charging 3.55 per cent.

 

Loans.com.au’s Essentials 80 PI loan with a variable rate of 3.59 per cent.

 

What is the lowest three year fixed home loan rate in Australia?

In January 2017, the lowest three year fixed home loan rate is just 3.64 per cent from Morgan Brooks DIRECT. This rate is available on the Morgan Brooks Fixed 3 year combination variable loan. On the average $300k, 25 year loan that equals repayments of $1,524.49

 

You can compare variable rate home loans from all of Australia’s major lenders here.

 

You can compare fixed rate home loans from all of Australia’s major lenders here.

 

Source: Infochoice.com.au

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