Current Mortgage Rates Australia

As of the RBA decision effective 17 June 2026, the Reserve Bank of Australia (RBA) cash rate sits at 4.35%. This is the benchmark that influences home loan interest rates across the country, though lenders decide separately whether and when to change their advertised rates.

Smaller and non-bank lenders are typically more competitive, with variable rates starting from approximately 5.08–5.24% for well-qualified borrowers with an LVR below 80%.

Source checked: RBA cash rate target overview. Product rates on this page are indicative examples and should be confirmed directly with the lender before relying on them.

Many borrowers opt for a split loan, fixing a portion for certainty while keeping the rest variable for flexibility.

• Negotiate with your existing lender. Banks often offer retention discounts to prevent you from refinancing elsewhere. A quick phone call can save thousands over the life of the loan.
• Compare across multiple lenders. Do not just look at the big four banks. Smaller lenders and non-bank lenders frequently offer lower rates. Use comparison tools to find competitive options.
• Use a mortgage broker. A good broker has access to dozens of lenders and can find deals you would not see on your own. They are typically paid by the lender, so there is no cost to you.
• Reduce your LVR. A loan-to-value ratio below 80% not only avoids Lenders Mortgage Insurance but also unlocks the best interest rates. Below 60% LVR often gets you the sharpest pricing.
• Check the comparison rate. The comparison rate includes most fees and gives a truer picture of the loan cost than the headline rate alone.