InfoChoice’s top 4 fixed-rate home loan deals in December 2019

Home loan rates in December 2019 are lower than ever before in Australia. Right now, In December 2019, assuming a 6-week settlement period, a borrower could lock in a sub-three per cent rate until 2025.

“There are 28 home loans with advertised five-year rates under 3% pa listed on InfoChoice,” said Vadim Taube, CEO of leading Australian financial comparison site InfoChoice.com.au.

“A standout deal in the fixed rate market is UBank’s 2.69% pa (comparison rate 3.19% pa) fixed for three years,” said Vadim Taube.

Best fixed-rate home loan rates in December 2019

Right now, lenders are competing hard for business in a crowded mortgage market.

There are 36 one-year fixed rate home loans under 3% pa.

There are 76 two-year fixed rate home loans under 3% pa.

There are 73 three-year fixed rate home loans under 3% pa.

There are 20 four-year fixed rate home loans under 3% pa.

How much can a fixed rate home loan save me?

Refinancing a $300K, 25-year mortgage that is charging 4.0 per cent pa to a loan charging 2.9 per cent pa could save a borrower  $52,929 over the life of the loan according to the InfoChoice refinancing calculator.

“Even switching from 3.5% pa to a low rate of 2.9 per cent pa can reduce your repayments by almost one hundred dollars per month,” said Vadim Taube.

“If your bank is not offering you a great rate, you can find alternatives that can reduce your repayments by hundreds of dollars per month easily at the moment.

Some of the top fixed-rate home loan deals now available, in December 2019 are listed below. You can compare Australia’s top fixed-rate home loan deals at InfoChoice.

Four top fixed-rate home loan deals in December 2019

UBank has fixed rates starting at a market-leading 2.69 per cent pa (comparison rate 3.19 per cent pa) for 3-years. This loan is available for owner occupiers paying principal and interest.

UBank also has 1-year fixed rates set at 2.74 per cent pa (comparison rate 3.38 per cent pa) and five-year fixed rates set at 2.94 per cent pa (comparison ate 3.19 per cent pa).

Virgin Money’s Reward Me Home Loan for owner occupiers is promoting a special offer of 100,000 bonus VFF points per $100,000 borrowed. To qualify for the points giveaway, the loan amount must be at least $300K and maximum 80% LVR. This loan has a current two and three-year fixed rate of 2.79 per cent pa (comparison rate 3.26 per cent pa) for owner occupiers paying principal and interest.

Suncorp Bank have a special offer of $2,000 cash back (terms and conditions apply) on their three year fixed rate Package Plus home loan. This loan has a fixed rate of 2.89 per cent pa for three years (comparison rate 3.70 per cent pa) for owner occupiers paying principal and interest.

The Aussie Select Basic Fixed Rate (for 2 or 3 years) is charging 2.99 per cent pa (comparison ate 3.58 per cent pa) for owner occupiers paying principal and interest.

This loan has no application fee, no offset or redraw and maximum LVR of 93 per cent.

You can compare Australia’s top fixed-rate home loan deals from banks and other lenders in December 2019 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.