Mortgage Rates Australia
Mortgage Rates Compared
Rates updated: January 9, 2012
Australian mortgage rose steadily from October 2009 but during 2011 they fell and with 2012 just starting it looks like there is no pressure to raise interest rates again.
The Reserve Bank of Australia (RBA) maintained the official cash rate at 4.75 per cent from November 2010 to the beginning of November 2011 and then began cutting it; first to 4.5 per cent and then again in December 2011 to 4.25 per cent.
Mortgage lending rates are a few percent higher than the official cash rate.
Most borrowers should find little difficulty securing a mortgage in Australia, although finding a lender who will offer a 100 percent mortgage is much harder than it once was.
Here are current mortgage interest rates offered by the country’s big four banks.
Mortgage Interest Rates in Australia
| Type of Mortgage | ANZ Bank | CBA | NAB | Westpac |
| Variable Rate | 7.30 % | 7.31 % | 7.22 % | 7.36 % |
| 1 year fixed | 6.19 % | 6.48 % | 6.24 % | 6.39 % |
| 2 years fixed | 5.95 % | 6.19 % | 6.24 % | 6.39 % |
| 3 years fixed | 6.29 % | 6.48 % | 6.34 % | 6.39 % |
| 5 years fixed | 6.79 % | 6.89 % | 6.84 % | 6.89 % |
| 10 years fixed | 7.69 % | 7.74 % | 8.09 % | 7.99 % |
|
|
||||
