Home loan rates go bok bok berserk

Kirsty Lamont

02 Jul 2019

Bokbokbeserk article image content

Home loan rates are hitting jaw dropping new lows as Australia's challenger lenders waste no time in passing through the Reserve Bank's second rate cut in as many months.

Homestar is leading the field, becoming the first lender in the Mozo comparison database to drop its variable home loan rate below 3.00%, while new online lender Athena has also passed on the full 25 basis point cut.

With so much competition driving amazing deals for borrowers one thing is for sure, if you're not out there comparing your current loan against the new crop of ultra low rate loans on the market now, you could be missing out on some serious savings.

Top Home Loan Deals

Rates updated daily. Advertiser disclosure.

  • loans.com.au
    Mozo Expert Choice Badge" style="width:60px;">

    1.85% p.a.variable for 24 months and then 2.25% p.a. variable

    2.21% p.a.

    $1234

    Product details Close details
    Smart Booster Home Loan

    2 Year Discounted Variable Rate, Owner Occupier, Principal & Interest, <80% LVR

    1.85% p.a.variable for 24 months and then 2.25% p.a. variable

    2.21% p.a.

    New super low introductory rate home loan for two years. Min 20% deposit. No monthly or ongoing fees. Fast settlement times. Mozo award-winning online lender. Friendly, local Australian based team.

    Smart Booster Home Loan

    New super low introductory rate home loan for two years. Min 20% deposit. No monthly or ongoing fees. Fast settlement times. Mozo award-winning online lender. Friendly, local Australian based team.

    • 1.85% p.a.variable for 24 months and then 2.25% p.a. variable

    • 2.21% p.a.

    • $520

    • $0.00

    • $0.00

    • yes - free

    • yes - free

    • Optional - with 0.10% additional interest

    • $520

    • 80.00%

    • $50,000

    • $1,000,000

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the Smart Booster Home Loan

    Details Close

  • UBank

    1.79% p.a.
    fixed 1 year

    2.32% p.a.

    $1234

    Product details Close details
    UHomeLoan

    Owner Occupier, Principal & Interest

    1.79% p.a.
    fixed 1 year

    2.32% p.a.

    Fast, easy to apply and no ongoing fees. Choose between weekly, fortnightly or monthly repayments. 1 year fixed rates are for new Owner Occupier Principal & Interest loans.

    UHomeLoan

    Fast, easy to apply and no ongoing fees. Choose between weekly, fortnightly or monthly repayments. 1 year fixed rates are for new Owner Occupier Principal & Interest loans.

    • 1.79% p.a.
      fixed 1 year

    • 2.32% p.a.

    • $0

    • $0.00

    • $0.00

    • yes - free up to $20,000 during fixed rate term

    • no

    • no

    • $0

    • 80.00%

    • $100,000

    • $2,000,000

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    • $395 Establishment fee waived for fixed rate loans that settle by 30 September 2021.

    Read our Mozo Review to learn more about the UHomeLoan

    Details Close

  • Macquarie

    2.09% p.a.
    fixed 3 years

    2.32% p.a.

    $1234

    Product details Close details
    Basic Home Loan

    Fixed, Owner Occupier, Principal & Interest, LVR<70%

    2.09% p.a.
    fixed 3 years

    2.32% p.a.

    No upfront or ongoing fees. Free extra repayments and redraw facility. Option to earn Qantas points. Min 30% deposit required. Borrow up to $750,000.

    Basic Home Loan

    No upfront or ongoing fees. Free extra repayments and redraw facility. Option to earn Qantas points. Min 30% deposit required. Borrow up to $750,000.

    • 2.09% p.a.
      fixed 3 years

    • 2.32% p.a.

    • $0

    • $0.00

    • $400.00

    • yes - free

    • yes - free

    • no

    • $0

    • 70.00%

    • $150,000

    • $750,000

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Monthly

    Read our Mozo Review to learn more about the Basic Home Loan

    Details Close

  • Athena
    Mozo Expert Choice Badge" style="width:60px;">

    1.99% p.a. variable

    1.99% p.a.

    $1234

    Product details Close details
    Celebrate Variable Home Loan

    <60% LVR, Owner Occupier, Principal & Interest

    1.99% p.a. variable

    1.99% p.a.

    Fast and efficient online application. Automatic discounts as loan is paid down. Free extra repayments and redraw facility. Zero fees. Min 40% deposit required. Winner of three Mozo Expert's Choice Awards for 2021.

    Celebrate Variable Home Loan

    Fast and efficient online application. Automatic discounts as loan is paid down. Free extra repayments and redraw facility. Zero fees. Min 40% deposit required. Winner of three Mozo Expert's Choice Awards for 2021.

    • 1.99% p.a. variable

    • 1.99% p.a.

    • $0

    • $0.00

    • $0.00

    • yes - free

    • yes - free

    • no

    • $0

    • 60.00%

    • $100,000

    • $2,000,000

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the Celebrate Variable Home Loan

    Details Close

  • Nano

    1.99% p.a. variable

    1.99% p.a.

    $1234

    Product details Close details
    Variable Home Loan

    Owner Occupier, Principal & Interest

    1.99% p.a. variable

    1.99% p.a.

    Refinance only. Super-fast digital application process. Zero upfront fees. No on-going service fees. Free 100% offset sub account. Comes with Visa debit card and the ability to use digital wallets; Apple and Google Pay. 25% deposit required.

    Variable Home Loan

    Refinance only. Super-fast digital application process. Zero upfront fees. No on-going service fees. Free 100% offset sub account. Comes with Visa debit card and the ability to use digital wallets; Apple and Google Pay. 25% deposit required.

    • 1.99% p.a. variable

    • 1.99% p.a.

    • $0

    • $0.00

    • $0.00

    • yes - free

    • yes - free

    • yes - offset sub account

    • $0

    • 75.00%

    • $100,000

    • $2,500,000

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Monthly

    Read our Mozo Review to learn more about the Variable Home Loan

    Details Close

  • Yard
    Mozo Expert Choice Badge" style="width:60px;">

    1.99% p.a. variable

    2.02% p.a.

    $1234

    Product details Close details
    Variable Home Loan Special

    Owner Occupier, Principal & Interest, LVR <70%

    1.99% p.a. variable

    2.02% p.a.

    Special rate applies to home loan applications submitted by 31 October 2021. Unlimited additional repayments, free redraw, 100% offset account. 30% deposit required. Simple online application. Low Cost Home Loan winner in the Mozo Expert's Choice Awards for 2021.

    Variable Home Loan Special

    Special rate applies to home loan applications submitted by 31 October 2021. Unlimited additional repayments, free redraw, 100% offset account. 30% deposit required. Simple online application. Low Cost Home Loan winner in the Mozo Expert's Choice Awards for 2021.

    • 1.99% p.a. variable

    • 2.02% p.a.

    • $849

    • $0.00

    • $500.00

    • yes - free

    • yes - free

    • Optional - $10 per month

    • $849

    • 70.00%

    • $150,000

    • $1,500,000

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    • Special rate applies to home loan applications submitted by 31 October 2021.

    Read our Mozo Review to learn more about the Variable Home Loan Special

    Details Close

  • Well Home Loans

    1.87% p.a. variable

    1.90% p.a.

    $1234

    Product details Close details
    Equity Plus

    Owner Occupier, Principal & Interest, LVR <60%

    1.87% p.a. variable

    1.90% p.a.

    Low rate variable home loan with optional offset. Free online redraw. No valuation fee. Purchase, refinance or equity release purposes allowed. Min 40% deposit.

    Equity Plus

    Low rate variable home loan with optional offset. Free online redraw. No valuation fee. Purchase, refinance or equity release purposes allowed. Min 40% deposit.

    • 1.87% p.a. variable

    • 1.90% p.a.

    • $785

    • $0.00

    • $300.00

    • yes - free

    • yes - free

    • yes

    • $785

    • 60.00%

    • $200,000

    • -

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the Equity Plus

    Details Close

  • 86 400

    1.84% p.a.
    fixed 1 year

    2.63% p.a.

    $1234

    Product details Close details
    Own Home Loan

    Fixed, Owner Occupier, Principal & Interest, LVR <60%

    1.84% p.a.
    fixed 1 year

    2.63% p.a.

    Competitive fixed rate. Multiple offset accounts available. Borrowers can also make extra repayments. Redraw facility available. Simple online application process. 40% deposit required.

    Own Home Loan

    Competitive fixed rate. Multiple offset accounts available. Borrowers can also make extra repayments. Redraw facility available. Simple online application process. 40% deposit required.

    • 1.84% p.a.
      fixed 1 year

    • 2.63% p.a.

    • $250

    • $250.00 yearly

    • $0.00

    • yes - free up to $20,000 per fixed rate term

    • yes - free

    • yes

    • $250

    • 60.00%

    • -

    • -

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    • $2,000 cashback for eligible home loans of at least $250,000 with applications received by 30 September 2021 and settled before 31 November 2021.

    Read our Mozo Review to learn more about the Own Home Loan

    Details Close

  • Virgin Money

    1.98% p.a.
    fixed 2 years

    2.66% p.a.

    $1234

    Product details Close details
    Special Offer Reward Me Fixed Rate Home Loan

    Owner Occupier, LVR <80%, 300k+

    1.98% p.a.
    fixed 2 years

    2.66% p.a.

    Enjoy $3,000 cashback when you refinance with Virgin Money (T&Cs apply). Additional repayments up to $10,000 per annum. Reverts to the discounted variable rate on expiry of the fixed term.

    Special Offer Reward Me Fixed Rate Home Loan

    Enjoy $3,000 cashback when you refinance with Virgin Money (T&Cs apply). Additional repayments up to $10,000 per annum. Reverts to the discounted variable rate on expiry of the fixed term.

    • 1.98% p.a.
      fixed 2 years

    • 2.66% p.a.

    • $450

    • $10.00 monthly

    • $350.00

    • yes - up to $10,000 per annum

    • no

    • no

    • $450

    • 80.00%

    • $300,000

    • -

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    • $3,000 cashback for new borrowings of at least $300,000, applications by 29 August 2021, settled by 26 November 2021.

    Read our Mozo Review to learn more about the Special Offer Reward Me Fixed Rate Home Loan

    Details Close

^See information about the Mozo Experts Choice Home loans Awards