The lowest home loan rates in Australia are well under 3 per cent pa with some lenders now offering rates around 2.5 per cent pa. Right now, lenders are cutting rates for investors, owner-occupiers and borrowers with small deposits. The lowest rate lenders in Australia and the cheapest home loans in Australia keep getting even cheaper. Rates are being cut by banks and credit unions each and every week. There is a new lowest home loan rate now available in Australia (listed on InfoChoice*) from Bank Australia at 2.44 per cent pa. Bank Australia and other lenders are also cutting rates for borrowers with small deposits as CBA, NAB and other smaller lenders accept applications from First Home Loan Deposit Scheme (FHLDS) hopefuls. The FHLDS allows first home buyers to apply for loans from selected lenders with just a small deposit (under 20%) with part of the loan guaranteed by the government. The lowest variable home loan rates in Australia (and currently listed on InfoChoice*) for owner-occupiers paying principal and interest repayments are listed in this table: You can compare these low-rate home loan deals with 1800 home loans at InfoChoice. Mortgage rate cutting war breaking out for February 2020 Westpac and other lenders have announced big rate cuts on home loans in the last few weeks. The RBA is expected to cut rates again as soon as Tuesday 4th February which will lead to many more lenders cutting rates across variable and fixed home loans for owner-occupiers and investors. Right now, the best (lowest) home loan rates in Australia listed on InfoChoice are from smaller lenders. Commonwealth Bank and NAB have special discount deals for first home buyers to go with their participation in the FHLDS. Westpac is among the market leaders in the fixed rate investor home loan market. ANZ Bank is promoting a $2,500 cash back offer for refinancers and new borrowers (Terms and conditions apply to all these deals and offers). “In the popular 2 and 3-year fixed rate home loan market, lenders are competing particularly hard at the moment with some big recent rate cuts from some of the leading current lenders,” said Vadim Taube, Chief Executive of InfoChoice.com.au. “Westpac now has fixed rates for investors set extremely low.” “An owner occupier with a small 10 per cent deposit can now lock in sub-2.5% rates for three years,” said Vadim Taube. InfoChoice’s Top 2-year fixed home loan rates for owner occupiers: Among the best rates now available on home loans in Australia are in the fixed rate market. Banks and other lenders are clearly betting that interest rates and the cost of money will remain very low for at least four or five years. InfoChoice’s lowest 2-year fixed home loan rates in Australia for owner-occupiers (P&I) are listed in this table (28 January 2020): InfoChoice’s Top 2-year fixed home loan rates for investors: InfoChoice’s lowest 2-year fixed home loan rates in Australia for investors (P&I) are listed in this table (28 January 2020): Compare home loan rates and keep up to date with the latest property market outlook in Australia and the outlook for interest rates in Australia at InfoChoice. *The products compared in this article are chosen from a range of offers available to us and are not representative of all the products available in the market and influenced by a range of factors including interest rates, product costs and commercial and sponsorship arrangements InfoChoice compares financial products from 145 banks, credit unions and other financial institutions in Australia. InfoChoice does not compare every product in the market. Some institutions may have a commercial partnership with InfoChoice. Rates are provided by partners and taken from financial institutions websites. We believe all information to be accurate on the date published. InfoChoice strives to update and keep information as accurate as possible. The information contained on this web site is general in nature and does not take into account your personal situation. Do not interpret the listing order as an endorsement or recommendation from us. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser. If you or someone you know is in financial stress, contact the National Debt Helpline on 1800 007 007.