After getting approved for a home loan and finding a property, the next crucial decision you need to make is whether to go with a fixed or variable rate.
There are pros and cons to fixing your home loan which you need to consider.
While it’s not possible to accurately predict the future direction of interest rates, there are several indicators that can help you make an informed decision.
Wholesale bank rate updates
| Rate type | Mid price | Weekly change | Monthly change |
|---|---|---|---|
| 90 days | 2.1950 | +0.1000 | +0.0233 |
| 3 year | 2.0700 | +0.0900 | +0.0200 |
| 5 year | 2.4350 | +0.1050 | +0.0250 |
* While every attempt has been made to make this information accurate, this data may contain errors. You should independently verify the accuracy and comprehensiveness of this information before basing your financial decisions on the above data.
Fixed rate home loans
Below are the most competitive fixed rate loans currently on offer from our panel of lenders.
| Fixed Loan Term | Interest Rate | Comparison Rate* | Contact Us |
|---|---|---|---|
| 1 year fixed | 5.69% | 6.34% | Apply Now |
| 3 years fixed | 5.55% | 6.22% | Apply Now |
| 4 years fixed | 5.59% | 7.30% | Apply Now |
| 5 years fixed | 5.59% | 7.14% | Apply Now |
| 10 years fixed | 7.24% | 7.84% | Apply Now |
| Interest in advance | 6.14% | 6.74% | Apply Now |
*WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Each comparison rate is calculated based on $150,000 over 25 years for a secured loan.
How to use this
How can BBSW data help you?
The 90-day bank bill swap interest rate (BBSW) is often referred to as the benchmark rate or reference rate for market interest rates.
Generally speaking, if 90 day bank bill rates move up or down then it is likely that banks may move their rates in the near future.
Similarly, 3 and 5 year interest swap rates are a good indicator for what the market expects interest rates to do over the next 3 to 5 years.
We have compiled the data for you so you can track BBSW rate changes on a daily basis.
Do not base your financial decisions on BBSW rate changes alone!
Seek expert advice from one of our mortgage brokers by calling 1300 889 743 or enquiring online.
Can a mortgage broker predict interest rates?
The short answer is no, but a good broker can provide guidance to you as a borrower.
Forecasting isn’t an exact science because it is based on current market knowledge and historical data.
Fixing is always at your own risk!
Please see our fixed rate home loan page for handy tips on knowing when to fix your loan.
Our expert brokers are also here to help you make an informed decision so please call us on 1300 889 743 or enquire online.
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Does this all sound too confusing? Don’t worry, you’re not alone!
Call us on 1300 889 743 or enquire online and one of our specialist brokers can tell you whether a fixed rate is suitable in the current market environment and, most importantly, for your situation.
FAQs
What is the money market?
The Australian money market is a part of the financial market in which highly liquid assets involved in short-term borrowing, lending, buying and selling are traded.
Some of these assets include bank bills, promissory notes, bank issued certificates of deposit and other short-term interest bearing securities.
What are bank bill swap rates?
Is the inflation rate a good indicator?
What about the Australian dollar?
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