It's official: The record low fixed rates era is ending

Mozo

05 May 2021

Rising mortgage rates mini houses i stock image content

Fixed home loan rates are officially on their way back up, and new figures confirm this. According to Mozo data, one in four lenders have raised fixed rates since January, setting the clock ticking for borrowers looking to lock in at the bottom of the cycle.

Westpac is the latest big bank to join this trend. The bank last week raised its 4 and 5-year fixed rates, following in the footsteps of Commonwealth Bank, Bank of Queensland, Bankwest and more than a dozen other lenders.

Mozo Money Expert Kirsty Lamont said, “Fixed home loans have surged in popularity lately thanks to rock-bottom rates and the certainty of predictable payments. For the moment, borrowers can still grab plenty of attractive fixed rates from under 2 per cent, but the window is fast closing.”

So if you’re looking to lock in while rates are still at rock bottom lows, start by comparing the latest fixed home loans below.


TOP FIXED HOME LOANS MAY 2021

Rates updated daily. Advertiser disclosure.

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

    1.85% p.a.
    fixed 3 years

    2.24% p.a.

    $1234

    Product details Close details
    UHomeLoan

    Owner Occupier, Principal & Interest

    1.85% p.a.
    fixed 3 years

    2.24% p.a.

    $0 fees and easy application. Choose between weekly, fortnightly or monthly repayments. 3 year fixed rates are for new Owner Occupier Principal & Interest loans.

    UHomeLoan

    $0 fees and easy application. Choose between weekly, fortnightly or monthly repayments. 3 year fixed rates are for new Owner Occupier Principal & Interest loans.

    • 1.85% p.a.
      fixed 3 years

    • 2.24% 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 2022.

    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

  • Newcastle Permanent

    1.89% p.a.
    fixed 2 years

    3.67% p.a.

    $1234

    Product details Close details
    Special Fixed Rate Home Loan Premium Plus Package

    Owner Occupier, Principal & Interest

    1.89% p.a.
    fixed 2 years

    3.67% p.a.

    Lock in a low fixed rate or choose to split your loan between fixed and variable. Insurance discounts and no fee credit card or zero fee personal loan available. $2,000 cashback offer for investor & owner occupied home loans over $250k with LVR ≤80% when refinancing to Newcastle Permanent. Limited time offer extended, T&Cs apply.

    Special Fixed Rate Home Loan Premium Plus Package

    Lock in a low fixed rate or choose to split your loan between fixed and variable. Insurance discounts and no fee credit card or zero fee personal loan available. $2,000 cashback offer for investor & owner occupied home loans over $250k with LVR ≤80% when refinancing to Newcastle Permanent. Limited time offer extended, T&Cs apply.

    • 1.89% p.a.
      fixed 2 years

    • 3.67% p.a.

    • $0

    • $395.00 yearly

    • $0.00

    • yes - free up to $25,000 p.a.

    • yes - free

    • no

    • $0

    • 80.00%

    • $5,000

    • -

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    • $2,000 cashback when you refinance your home loan from another financial institution when you apply by 17 December 2021 and are funded by 28 February 2022, min $250k, LVR <80%

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

    Details Close

  • Well Home Loans

    1.95% p.a.
    fixed 2 years

    2.02% p.a.

    $1234

    Product details Close details
    Well Balanced Fixed

    Owner Occupier, Principal & Interest, LVR <80%

    1.95% p.a.
    fixed 2 years

    2.02% p.a.

    Super low fixed rate and only 20% deposit required. Optional 100% offset account. Free extra repayments and redraw facility. Flexible repayment schedule.

    Well Balanced Fixed

    Super low fixed rate and only 20% deposit required. Optional 100% offset account. Free extra repayments and redraw facility. Flexible repayment schedule.

    • 1.95% p.a.
      fixed 2 years

    • 2.02% p.a.

    • $785

    • $0.00

    • $300.00

    • yes - free

    • yes - free

    • Optional - $10 per month

    • $785

    • 80.00%

    • $200,000

    • $2,000,000

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the Well Balanced Fixed

    Details Close

  • Suncorp

    1.99% p.a.
    fixed 3 years

    2.83% p.a.

    $1234

    Product details Close details
    Fixed Home Loan Special Offer Home Package Plus

    Owner Occupier, Principal & Interest, <80% LVR

    1.99% p.a.
    fixed 3 years

    2.83% p.a.

    Competitive low fixed rates for owner occupiers. No monthly account keeping or loan establishment fees. 20% deposit required. Get $3K cash when you refinance to a Suncorp Bank home loan of $750K+ with LVR <= 90%. Apply by 30/11/21, settle by 28/02/22. (T&Cs apply).

    Fixed Home Loan Special Offer Home Package Plus

    Competitive low fixed rates for owner occupiers. No monthly account keeping or loan establishment fees. 20% deposit required. Get $3K cash when you refinance to a Suncorp Bank home loan of $750K+ with LVR <= 90%. Apply by 30/11/21, settle by 28/02/22. (T&Cs apply).

    • 1.99% p.a.
      fixed 3 years

    • 2.83% p.a.

    • $0

    • $375.00 yearly

    • $350.00

    • yes - free up to $500 per month

    • no

    • no

    • $0

    • 80.00%

    • $150,000

    • -

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    • $3,000 solar cashback (homes with solar, $500k+, <90% LVR approved before 31 Dec 2021) or $3,000 cashback refinance existing loan, $750k+ <90% LVR and approved before 30 Nov 2021. Cannot be combined.

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

    Details Close

  • HSBC

    2.09% p.a.
    fixed 3 years

    2.86% p.a.

    $1234

    Product details Close details
    Fixed Rate Home Loan Home Loan Package

    Owner Occupier, Principal & Interest, LVR <80%

    2.09% p.a.
    fixed 3 years

    2.86% p.a.

    Ability to split your home loan between Fixed and Variable. Dedicated Relationship Manager. Min 20% deposit. Refinancers borrowing $250,000 or more could receive $3,288 cashback (T&Cs, eligibility and lending criteria apply).

    Fixed Rate Home Loan Home Loan Package

    Ability to split your home loan between Fixed and Variable. Dedicated Relationship Manager. Min 20% deposit. Refinancers borrowing $250,000 or more could receive $3,288 cashback (T&Cs, eligibility and lending criteria apply).

    • 2.09% p.a.
      fixed 3 years

    • 2.86% p.a.

    • $270

    • $390.00 yearly

    • $300.00

    • yes - free up to $10,000 p.a.

    • no

    • no

    • $270

    • 80.00%

    • $500,000

    • $7,500,000

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    • Receive $3,288 cashback when you refinance an existing home loan of $250,000. Must apply by 31 December 2021 and settle by 28 February 2022.

    Read our Mozo Review to learn more about the Fixed Rate Home Loan

    Details Close

  • Bank of Queensland
    Mozo Expert Choice Badge" style="width:60px;">

    2.19% p.a.
    fixed 3 years

    3.03% p.a.

    $1234

    Product details Close details
    Discount Fixed Rate

    Owner Occupier, Principal & Interest, <80% LVR

    2.19% p.a.
    fixed 3 years

    3.03% p.a.

    Lock in a competitive rate for 2 years. Only 20% deposit required. Flexible repayment options and make up to $5,000 in additional repayments annually. Refinance to BOQ by 31 October 2021 and get $3,000 cashback (T&Cs apply).

    Discount Fixed Rate

    Lock in a competitive rate for 2 years. Only 20% deposit required. Flexible repayment options and make up to $5,000 in additional repayments annually. Refinance to BOQ by 31 October 2021 and get $3,000 cashback (T&Cs apply).

    • 2.19% p.a.
      fixed 3 years

    • 3.03% p.a.

    • $450

    • $10.00 monthly

    • $350.00

    • yes - free up to $5,000 p.a

    • no

    • no

    • $450

    • 80.00%

    • $150,000

    • -

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    • $3,000 refinance cashback, min $250,000, 80% LVR or less. Apply before 31 October 2021, settle by 26 November 2021.

    Read our Mozo Review to learn more about the Discount Fixed Rate

    Details Close

  • Great Southern Bank

    2.02% p.a.
    fixed 3 years

    3.36% p.a.

    $1234

    Product details Close details
    Fixed Rate Loan

    Owner Occupier, Principal & Interest

    2.02% p.a.
    fixed 3 years

    3.36% p.a.

    No annual or ongoing monthly fees. Fee free extra repayments. Free redraw facility.

    Fixed Rate Loan

    No annual or ongoing monthly fees. Fee free extra repayments. Free redraw facility.

    • 2.02% p.a.
      fixed 3 years

    • 3.36% p.a.

    • $835

    • $0.00

    • $500.00

    • yes - up to $30,000 during fixed rate term

    • yes - free

    • no

    • $835

    • 95.00%

    • $10,000

    • $5,000,000

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Monthly

    • Receive $3,000 cashback and have the establishment fee waived when you refinance with Great Southern Bank before 31 January 2022 and settle the loan before 30 April 2022, min lending of $250,000 and maximum 80% LVR.

    Read our Mozo Review to learn more about the Fixed Rate 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 2022.

    Read our Mozo Review to learn more about the UHomeLoan

    Details Close

  • HSBC

    2.09% p.a.
    fixed 3 years

    2.86% p.a.

    $1234

    Product details Close details
    Fixed Rate Home Loan Home Loan Package

    Owner Occupier, Principal & Interest, LVR <80%

    2.09% p.a.
    fixed 3 years

    2.86% p.a.

    Ability to split your home loan between Fixed and Variable. Dedicated Relationship Manager. Min 20% deposit. Refinancers borrowing $250,000 or more could receive $3,288 cashback (T&Cs, eligibility and lending criteria apply).

    Fixed Rate Home Loan Home Loan Package

    Ability to split your home loan between Fixed and Variable. Dedicated Relationship Manager. Min 20% deposit. Refinancers borrowing $250,000 or more could receive $3,288 cashback (T&Cs, eligibility and lending criteria apply).

    • 2.09% p.a.
      fixed 3 years

    • 2.86% p.a.

    • $270

    • $390.00 yearly

    • $300.00

    • yes - free up to $10,000 p.a.

    • no

    • no

    • $270

    • 80.00%

    • $500,000

    • $7,500,000

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    • Receive $3,288 cashback when you refinance an existing home loan of $250,000. Must apply by 31 December 2021 and settle by 28 February 2022.

    Read our Mozo Review to learn more about the Fixed Rate Home Loan

    Details Close

^See information about the Mozo Experts Choice Home loans Awards