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.

  • loans.com.au

    1.99% p.a.
    fixed 3 years

    2.70% p.a.

    $1234

    Product details Close details
    Special Offer Fixed Rate Home Loan

    Owner Occupier, Principal & Interest

    1.99% p.a.
    fixed 3 years

    2.70% p.a.

    Limited time 3 Year Fixed Rate Special Offer for purchase or refinance. Rate lock option available. No monthly or ongoing fees.

    Special Offer Fixed Rate Home Loan

    Limited time 3 Year Fixed Rate Special Offer for purchase or refinance. Rate lock option available. No monthly or ongoing fees.

    • 1.99% p.a.
      fixed 3 years

    • 2.70% p.a.

    • $520

    • $0.00

    • $0.00

    • yes - free up to $10,000 p.a.

    • no

    • no

    • $520

    • 80.00%

    • $50,000

    • $1,000,000

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

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

    Details Close

  • UBank

    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 p.a.

    • 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. Receive 1.75% 1 year fixed rate when you apply by 30 June 2021 and settle within 90 days.

    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.

    Get a flexible loan structure with up to six loan accounts with different rate types. Make free extra repayments. Enjoy free redraw facility. No upfront or ongoing fees. Option to earn Qantas points.

    Basic Home Loan

    Get a flexible loan structure with up to six loan accounts with different rate types. Make free extra repayments. Enjoy free redraw facility. No upfront or ongoing fees. Option to earn Qantas points.

    • 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

  • 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

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

    1.94% p.a.
    fixed 3 years

    2.97% p.a.

    $1234

    Product details Close details
    Discount Fixed Rate

    Owner Occupier, Principal & Interest, <80% LVR

    1.94% p.a.
    fixed 3 years

    2.97% p.a.

    Have the certainty of fixed repayments with a competitive rate from BOQ. Flexible repayment options available and make up to $5,000 in additional repayments annually. Fixed Rate Home Loan Winner in the Mozo Expert's Choice Awards for 2021. $3,000 cashback offer when you refinance your home loan to BOQ, offer ends 27 June 2021 (T&Cs apply).

    Discount Fixed Rate

    Have the certainty of fixed repayments with a competitive rate from BOQ. Flexible repayment options available and make up to $5,000 in additional repayments annually. Fixed Rate Home Loan Winner in the Mozo Expert's Choice Awards for 2021. $3,000 cashback offer when you refinance your home loan to BOQ, offer ends 27 June 2021 (T&Cs apply).

    • 1.94% p.a.
      fixed 3 years

    • 2.97% 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 27 June 2021, settle by 24 September 2021.

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

    Details Close

  • Well Home Loans

    1.95% p.a.
    fixed 2 years

    2.17% p.a.

    $1234

    Product details Close details
    Well Balanced Fixed

    Owner Occupier, Principal & Interest, LVR <80%

    1.95% p.a.
    fixed 2 years

    2.17% p.a.

    Super low rates from an online lender and the personal support from a family run company Free extra repayments and redraw facility. Flexible repayment schedule.

    Well Balanced Fixed

    Super low rates from an online lender and the personal support from a family run company Free extra repayments and redraw facility. Flexible repayment schedule.

    • 1.95% p.a.
      fixed 2 years

    • 2.17% 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

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

    1.99% p.a.
    fixed 3 years

    2.59% p.a.

    $1234

    Product details Close details
    Fixed Rate Home Loan

    Owner Occupier, Principal & Interest, LVR<80%

    1.99% p.a.
    fixed 3 years

    2.59% p.a.

    Competitive fixed rates ranging from 1.99% (2.59% comparison rate*) across 1 to 5 year terms. No application fee or annual fee. Free extra repayments (up to $10,000 per year). Winner of Australia's Best Large Mutual Bank 2020.

    Fixed Rate Home Loan

    Competitive fixed rates ranging from 1.99% (2.59% comparison rate*) across 1 to 5 year terms. No application fee or annual fee. Free extra repayments (up to $10,000 per year). Winner of Australia's Best Large Mutual Bank 2020.

    • 1.99% p.a.
      fixed 3 years

    • 2.59% p.a.

    • $0

    • $0.00

    • $275.00

    • yes - free up to $10,000 p.a.

    • no

    • no

    • $0

    • 80.00%

    • $150,000

    • -

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Monthly, Fortnightly, Weekly

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

    Great fixed low rate. Ability to split your loan between fixed and variable. Insurance discounts and $0 credit card or personal loan fee available. $2,000 cashback offer for investor & owner occupied home loans over $250k with LVR ≤80% when refinancing to Newcastle Permanent. Enjoy local branches and call centre.

    Special Fixed Rate Home Loan Premium Plus Package

    Great fixed low rate. Ability to split your loan between fixed and variable. Insurance discounts and $0 credit card or personal loan fee available. $2,000 cashback offer for investor & owner occupied home loans over $250k with LVR ≤80% when refinancing to Newcastle Permanent. Enjoy local branches and call centre.

    • 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 30 September 2021 and are funded by 30 November 2021, min $250k, LVR <80%

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

    Details Close

  • Suncorp

    2.09% p.a.
    fixed 3 years

    2.93% p.a.

    $1234

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

    Owner Occupier, Principal & Interest

    2.09% p.a.
    fixed 3 years

    2.93% p.a.

    No monthly account keeping fees & No loan establishment fee. Get up to $3,000 cash bonus when you refinance with an eligible Suncorp Bank Home Loan. T&Cs & eligibility criteria apply.

    Fixed Home Loan Special Offer Home Package Plus

    No monthly account keeping fees & No loan establishment fee. Get up to $3,000 cash bonus when you refinance with an eligible Suncorp Bank Home Loan. T&Cs & eligibility criteria apply.

    • 2.09% p.a.
      fixed 3 years

    • 2.93% p.a.

    • $0

    • $375.00 yearly

    • $350.00

    • yes - free up to $500 per month

    • no

    • no

    • $0

    • 90.00%

    • $150,000

    • -

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

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

    Details Close

  • Great Southern Bank

    1.97% p.a.
    fixed 3 years

    3.86% p.a.

    $1234

    Product details Close details
    Fixed Rate Loan

    Owner Occupier, Principal & Interest

    1.97% p.a.
    fixed 3 years

    3.86% p.a.

    With no annual or ongoing monthly fees, free redraw facility and the flexibility to make up to $5,000 in total extra repayments during your fixed rate term.

    Fixed Rate Loan

    With no annual or ongoing monthly fees, free redraw facility and the flexibility to make up to $5,000 in total extra repayments during your fixed rate term.

    • 1.97% p.a.
      fixed 3 years

    • 3.86% p.a.

    • $835

    • $0.00

    • $500.00

    • yes - up to $5,000 during fixed rate term

    • yes - free

    • no

    • $835

    • 95.00%

    • $10,000

    • $5,000,000

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Monthly

    • Refinance with Great Southern Bank and receive a $2,000 Digital Prepaid Mastercard, min new lending of $250,000 and maximum 80% LVR.

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

    Details Close

^See information about the Mozo Experts Choice Home loans Awards