Australian Home Loan Rate Index
Headline home loan rate statistics for Australia, computed live from 3,849 products across 85+ lenders and refreshed daily. Free to cite, please link to this page.
Key findings, July 2026
- As of 28 July 2026, the average owner-occupier variable home loan rate in Australia is 6.17% (median 6.09%) across the 67 lenders Ratesniffers tracks.
- The lowest advertised owner-occupier variable rate on the Ratesniffers panel is 5.89%, from Horizon Bank.
- The big-four banks average 6.09% on variable rates, 8 basis points lower than the 6.17% challenger-bank and mutual average.
- The average variable rate sits 182 basis points above the 4.35% RBA cash rate.
- The lowest owner-occupier fixed rate is 6.09% (Macquarie Bank Limited); the fixed average is 6.42%.
- Investor variable rates average 6.30%, from a low of 5.99%.
- The average 1-year fixed owner-occupier rate is 6.44% (lowest 6.14%, across 57 lenders).
- The average 2-year fixed owner-occupier rate is 6.44% (lowest 6.14%, across 57 lenders).
- The average 3-year fixed owner-occupier rate is 6.51% (lowest 6.09%, across 56 lenders).
- The average 5-year fixed owner-occupier rate is 6.68% (lowest 6.29%, across 52 lenders).
Updated 28 July 2026 · Methodology: lowest advertised owner-occupier rate per lender from our daily-refreshed index. See how we rank rates.
Australian home loan rates by category, July 2026
Average, lowest and highest advertised rates for each loan category, computed live across 67+ lenders. Free to cite with a link to this page.
| Loan category | Average | Lowest | Highest | Lenders |
|---|---|---|---|---|
| Owner-occupier variable (P&I) | 6.17% | 5.89% | 8.65% | 67 |
| Investor variable (P&I) | 6.30% | 5.99% | 8.65% | 59 |
| Owner-occupier 1-year fixed | 6.44% | 6.14% | 9.26% | 57 |
| Owner-occupier 2-year fixed | 6.44% | 6.14% | 9.26% | 57 |
| Owner-occupier 3-year fixed | 6.51% | 6.09% | 9.16% | 56 |
| Owner-occupier 5-year fixed | 6.68% | 6.29% | 9.36% | 52 |
All rates advertised, owner-occupier unless noted, principal-and-interest. Comparison rates differ, see the live tables. Source: Ratesniffers daily rate index.
What these numbers mean for borrowers
Modelled on a $600,000 owner-occupier loan over 25 years, the standard figure used to illustrate rate moves. Figures are indicative; your saving depends on your balance, term and the rate you qualify for.
The cost of staying on an average rate. A borrower paying the 6.17% market-average variable rate instead of the lowest 5.89% is paying about $103 more a month, roughly $1,234 a year, or $30,850 over the life of the loan if the gap held. That gap is what refinancing to the sharpest end of the market is worth today.
Source: Ratesniffers Home Loan Rate Index, July 2026. Free to cite with a link to this page.
Home loan rate index FAQs
What is the average home loan rate in Australia right now?
The average owner-occupier variable home loan rate is 6.17% (median 6.09%) as at July 2026, across 67 lenders tracked by Ratesniffers.
What is the lowest home loan rate in Australia?
The lowest advertised owner-occupier variable rate is 5.89% from Horizon Bank. Rates refresh daily.
Do the big four banks have higher home loan rates?
On average yes, the big four average 6.09% versus 6.17% for challenger banks and mutuals, a 8 basis-point difference.
Compare the live rates behind these numbers
Every figure above comes from our live comparison tables, refreshed daily across 85+ lenders.