How much could you save by refinancing your home loan?
As at June 2026, the average Australian refinancer could save about $1,320 a year by moving a $600,000 owner-occupier loan from the market-average 6.15% variable rate to the market low of 5.93%, with 10 of 85+ lenders now under 6.00%.
Computed live from 42 products across 85+ lenders and refreshed daily. Free to cite, please link to this page.
What moving to the market low is worth
Indicative first-year saving on a $600,000 owner-occupier loan when moving from a reference rate to the current market low of 5.93%.
How the index is built
The Refinance Savings Index takes the owner-occupier variable rates advertised across 85+ lenders, finds the market low and the middle of the pack, and models the difference on a standard $600,000 loan over 30 years. The saving figure is the first-year interest gap between a reference rate and the market low. It is deliberately conservative and direction-neutral, so it only shows a saving when a reference rate sits above the market low, never an assumed gain. Every number refreshes daily.
Updated 26 June 2026. Rates are advertised, owner-occupier, principal and interest. Comparison rates differ, see the live tables. See how we rank rates.
Cite this index
Quoting these figures? Use the line below and link back to this page. Numbers are free to cite.
Source: Ratesniffers Refinance Savings Index, June 2026 (https://ratesniffers.com.au/insights/refinance-savings-index).
Embed the live widget
Paste this into your page. The widget shows the headline stats and updates automatically as the index refreshes.
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Press-ready summary
Ratesniffers Refinance Savings Index, June 2026: 10 of the 85+ lenders tracked now advertise an owner-occupier variable rate under 6.00%. The lowest advertised variable rate is 5.93% and the median is 6.09%. The lowest 3-year fixed rate is 6.24%. On a $600,000 loan, a borrower on the market-average 6.15% could save about $1,320 a year by moving to the market low. Figures refresh daily and are free to cite with a link to this page.
Refinance Savings Index FAQs
What is the Refinance Savings Index?
The Refinance Savings Index is a monthly, free-to-cite measure of how much an Australian home loan borrower could save by moving to the sharpest rate in the market. It is computed live across 85+ lenders and refreshed daily, so the figures stay current.
How much could the average refinancer save right now?
On a $600,000 owner-occupier loan, moving from the 6.15% market-average variable rate to the 5.93% market low is worth about $85 a month, roughly $1,320 a year. Your saving depends on your balance, term and the rate you qualify for.
How many lenders are offering low rates?
As at June 2026, 10 of the 85+ lenders tracked have an owner-occupier variable rate under 6.00%. The lowest advertised owner-occupier variable rate is 5.93% and the median is 6.09%.
Can I cite or embed the Refinance Savings Index?
Yes. The index is free to cite with a link to this page, and there is a ready-to-paste embed widget below that keeps the numbers up to date automatically. Please attribute figures to the Ratesniffers Refinance Savings Index.
Compare the live rates behind the index
Every figure above comes from our live comparison tables, refreshed daily across 85+ lenders.