Have rates hit rock bottom? Here’s why you should consider fixing your loan.

Some lenders have started to lift fixed home loan rates in recent weeks, signalling that interest rates in the 1% range may be short lived.

Australians can now take advantage of some of the lowest lending rates in history. Fixed rates from as low as 1.79% and variable rates from 2.09% are a welcome relief from the 3-4% rates we saw just a few years ago, and a far cry from the average of 17% in the 80’s.

The Reserve Bank has kept the cash rate on hold at an historic low of 0.1%. Competition is still fierce between lenders and many are offering up to $4,000 cashback to refinance (average cost of refinancing is approx. $500). If you’ve been thinking about fixing your loan, or at least considering fixing a portion, now is the time to lock in an historic low rate.

What rate should you expect for your loan right now?  

  • If you have a home loan above $500k, your variable rate should be in the low to mid 2% range (principal and interest repayments) and fixed rates start from 1.79% (2 year fixed).  
  • If you have an investment loan above $500k, your variable rate should be in the mid 2% range, and fixed rates start from 2.24% (principal and interest repayments).* 

ITC’s in-house finance broker, Samantha Moore, offers complimentary, obligation free reviews of ITC client’s loans. She can apply for a discount on your behalf for your current loan or look at refinancing options (with up to $4k cashback).

Simply send your current home loan statement via the link below and Sam will come back to you with what ITC Finance can offer (access to 45+ lenders) or simply email [email protected]


*Rates applicable to full doc loans with LVR<80% and subject to lender policies and approval.


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