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Comparison rate*Bank Australia
Owner occupier · Variable · P&I · ≤90% LVR
Monthly repayments
on $600,000 · 30 yrs · P&I
Lowest home loan rates by type on our panel
Discover the top rates from our lender panel based on what you need.
*Comparison rates are based on a $150,000 loan over 25 years. WARNING: This comparison rate is true only for the example fiven and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
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Owner occupier · Refinance home loans
| Lender & product | Type | Features | Compare | ||
|---|---|---|---|---|---|
:format(webp)){kind=small} Bank Australia Clean Energy Home Loan 7.5 Star + · Interest only · ≤90% LVR | 5.88%p.a. Comparison* 6.21%p.a. | Variable | OffsetRedrawExtra repays | $2,940 | Compare Lowest |
Bank Australia Clean Energy Home Loan 7.5 Star + · Principal & interest · ≤90% LVR | 5.88%p.a. Comparison* 6.21%p.a. | Variable | OffsetRedrawExtra repays | $3,551 | Compare Lowest |
:format(webp)){kind=small} Bank of China Discount Home Loan - Australian Income · Principal & interest · ≤80% LVR | 5.93%p.a. Comparison* 6.13%p.a. | Variable | RedrawExtra repays | $3,570 | |
Bank of China Discount Plus Home Loan - Australian Income · Principal & interest · ≤80% LVR | 5.93%p.a. Comparison* 6.31%p.a. | Variable | OffsetRedrawExtra repays | $3,570 | |
Bank Australia Clean Energy Home Loan Renovate · Principal & interest · ≤90% LVR | 5.98%p.a. Comparison* 6.25%p.a. | Variable | OffsetRedrawExtra repays | $3,590 | |
Bank Australia Clean Energy Home Loan Renovate · Interest only · ≤90% LVR | 5.98%p.a. Comparison* 6.25%p.a. | Variable | OffsetRedrawExtra repays | $2,990 | |
:format(webp)){kind=small} ME Bank EconoME Home Loan · Principal & interest · ≤70% LVR | 5.99%p.a. Comparison* 6.01%p.a. | Variable | RedrawExtra repays | $3,593 | |
ME Bank EconoME Home Loan · Principal & interest · ≤60% LVR | 5.99%p.a. Comparison* 6.01%p.a. | Variable | RedrawExtra repays | $3,593 |
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Rate news this month · 21 August 2026
The RBA has taken a pause, but borrowers shouldn't
Home loan rates in Australia remain high overall, but competition between lenders is creating opportunities for borrowers willing to shop around. The lowest variable rate on HomeLoanRates.com.au's lender panel is 5.88% p.a. (comparison rate* 6.21% p.a.), which is well short of the lowest rates offered by any of the major banks.
The RBA cash rate currently sits at 4.35%, following three increases in early 2026. The RBA paused in June and August to assess their impact, and the latest round of inflation data points to a hike in September.
Fixed rates are generally less competitive, reflecting uncertainty about where lenders’ funding costs and the cash rate will go next. That said, some lenders are sharpening fixed rates on the assumption that we've reached the top of the rate hiking cycle.
The gap between lenders remains significant, particularly the rates on offer for new customers. Borrowers who are prepared to switch (and make that intent clear to their current lender) are in a strong position to negotiate preferential pricing.
For existing borrowers, this makes it worth comparing their rate with current market offers and asking their lender for a reduction before refinancing. Prospective buyers should allow for the possibility that rates remain elevated and compare loans using the comparison rate, fees and features, not simply the lowest advertised interest rate.
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