Some of the best home loans in September 2021


The Reserve Bank of Australia (RBA) maintained the country’s cash rate at its meeting this month. Although the cash rate has remained stable since the start of the year, several Australian mortgage lenders have adjusted the interest rates on their off-cycle home loans against the RBA, pushing up fixed rates while competing to reduce variable rates.

According to RateCity data, the number of variable interest rates below 2% in the Australian mortgage market increased 68% from 28 to 46 in just two months. One of the biggest names to cut rates is Westpac, which cut its introductory variable rate to 1.99%. This could cause other lenders to lower their own variable rates in order to remain competitive.

RateCity’s research director Sally Tindall said record levels of refinancing activity could also be behind the move towards floating rates, with the Australian Bureau of Statistics (ABS) registering $ 17.22 billion. dollars of loans settled in July 2021 only.

“Banks need to win new business, not lose it, if they want their loan portfolios to continue to move in the right direction.”

“Well over half of all mortgage holders are still variable rate. It’s a huge market of potential refinancers that banks can target, ”she said.

This may have left many first-time homebuyers behind, with a recent report revealing some “completely losing hope” about their chances of getting a foothold on the property ladder.

However, there are still mortgage options available to first-time homebuyers, investors, and refinancers, with both variable and fixed interest rates. Here is a selection of the top rated options from the RateCity rankings, based on their real-time ™ ratings:

Ratings are correct at time of posting. Please note that lenders may swap places on the list as interest rates and fees change and RateCity’s tracker reflects those movements.

Some of the best variable home loans

Some of the Best 4 Year Fixed Home Loans

Some of the best small deposit home loans

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