Fixed Mortgage

When interest rates are on the rise, more Australians with a variable rate home loan begin to consider a fixed mortgage option. This is because rising interest rates mean higher mortgage repayments for variable loans. But with a fixed mortgage your repayments are set for a chosen period of time, which can be from one year to seven years. A fixed mortgage rate is generally always higher than variable rates, but because variable rates are unpredictable to an extent some prefer the stability of a fixed home loan. Most of the time a fixed mortgage will cost a lot more than a variable rate so the best option is to pretend you are on a fixed rate and make extra repayments to a variable mortgage.

The table below lists today's best 3 year fixed home loan rates.