These super low fixed home loan rates won’t last for much longer

Fixed rate home loans surged in popularity in 2021 as Aussie borrowers raced to lock in at record low rates. While many lenders have already started pushing fixed rates up from last year’s record lows, there are still a handful of incredibly low fixed rate deals on the market right now for borrowers who are prepared to act fast.

The Reserve Bank convenes its first meeting of the new year in early February, and while the official interest rate isn’t expected to rise immediately, there are growing predictions from the nation’s economists that it might rise as soon as late 2022.

For borrowers who haven’t yet locked in and like the idea of doing so to provide peace of mind against future rate rises, the Mozo Editors have rounded up some of the top fixed rate home loans currently on the market under 2.00%. But be quick, as these super low deals won’t last for much longer….

TOP FIXED HOME LOANS JANUARY 2022

UBank UHomeLoan
  • 1.79% fixed rate for 1 year (2.18% comparison rate*)
  • Free extra repayments up to $20,000 during fixed term
  • Mozo Experts Choice Best Fixed Rate Home Loan 2021^
Find out more

The details:
UBank is the online bank created by NAB to shake things up in the borrowing and savings world, and boy have they succeeded! Bringing to the table super competitive interest rates, zero upfront or ongoing fees and speedy online processes, it’s little wonder UBank has become such a success story. This ultra low 1-year fixed rate home loan is available for loans of $200,000 or more with a minimum deposit of 20%.

HSBC Fixed Rate Home Loan
  • 1.88% fixed rate for 2 years (2.65% comparison rate*)
  • $3,288 cashback for refinancers - limited time only
  • Free extra repayments up to $10,000 a year

The details:
This cracking deal from HSBC lets you lock in an ultra low rate for 2 years, offering protection against rate rises and peace of mind over your home loan repayments. What's more, you'll still have the flexibility to pay down your mortgage faster by making free extra repayments of up to $10,000 a year during the fixed term. This stellar rate is only available with the HSBC Home Loan Package, which comes with a $390 annual fee and a discounted variable revert rate. And, for a limited time only, refinancers can enjoy a generous $3,288 cashback.

Qudos Bank Fixed Rate Home Loan
  • 1.79% fixed rate for 1 year (2.43% comparison rate*)
  • No application or annual fees
  • Free extra repayments up to $10,000 per year

Not only is the Fixed Rate Home Loan from Qudos Bank a Mozo Experts Choice Award 2021 winner, it’s currently still offering up some seriously competitive rates for borrowers wanting repayment certainty. There’s more good news, because there are no upfront or ongoing fees to budget for, plus you’ll even be able get ahead on your loan by making use of the extra repayments feature (free up to $10,000 per year).

IMB Fixed Home Loan
  • 2.47% fixed rate for 3 years (2.71% comparison rate*)
  • Pay up to 12 months repayments in advance without penalty
  • Borrow up to 95% of the property's value
Find out more

The details:
With a fixed three year rate starting at 2.47% (2.71% comparison rate*), this competitive loan from mutual bank IMB is a great option for borrowers looking to lock in for the medium to long term. There's a $6 monthly fee and a $799 upfront fee, but it's available to borrowers with just 5% deposit and features include free redraw and the ability to pay up to 12 months repayments in advance without penalty.

Looking for more options? Head over to our home loan comparison table to compare 500+ home loans from more than 80 lenders.

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* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

** Initial monthly repayment figures are estimates only, based on the advertised rate, loan amount and term entered. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.

^See information about the Mozo Experts Choice Home Loan Awards

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