What is the average mortgage rate right now?
In February 2015, the average standard variable home loan rate is about 5.5 per cent. That will fall to about 5.25 per cent as lenders pass on the RBA's 0.25 percentage point rate cut. There are many good home loans now on the market for less than five per cent p.a.
Many economists are predicting variable rates to fall again in March 2015. The Reserve Bank is expected to cut rates at least one more time.
Source: Courier Mail