Compare fixed rate home loans from 4.64%

Want more consistency in your life? A fixed rate home loan might be for you!

What is a fixed rate home loan?

A fixed interest rate stays constant for a specified period, typically between one and five years. During that time, a mortgage holder's repayments will be exactly the same each and every month.

That's unlike variable rate home loans, which can see interest rates – and therefore repayments – vary over time.

However, fixed rate mortgages often don't offer as many features as variable mortgages and they tend to limit how much extra a borrower can repay each year (often capping it at $10,000). Additionally, there can be significant consequences for ending a fixed rate agreement early – which can apply when a homeowner refinances, repays their loan, or sells their property.

How to compare fixed home loans

Once you've decided a fixed rate home loan is right for you, it's time to find the best product for your needs. At this point, it's vital you do your research and compare all your options. Here's what to look for when doing so:

Interest rate

It might sound obvious, but the interest rate is often the first piece of information you'll learn about a home loan. Take some time to find what a good, not so good, and bad interest rate at the time you're looking for a mortgage. This is a simple way to narrow down your options and ensure you get a good deal.

Comparison rate

Perhaps more important than the headline interest rate, is the accompanying comparison rate. The comparison rate outlines a loan's 'true cost', including upfront fees, ongoing costs, and the revert rate, based on a $150,000 loan term over a 25 year period.

Revert rate

The revert rate is the interest rate the home loan will 'revert' to once the fixed term period expires.

Don't assume a lender will automatically provide their lowest variable rate on the expiry of your fixed rate period. It's more likely that your interest rate will revert back to the lender's standard variable rate. If that rate isn't competitive, it might be worth factoring in the cost of meeting it or refinancing after your fixed period ends.

Fees

Home loan fees, such as monthly fees, redraw fees, or annual fees can add up. When comparing one fixed home loan against another, it's worth considering any ongoing and upfront fees.

Features

If you want a redraw facility or an offset account, you should narrow your search down to products that offer them. However, be warned that fixed rate home loans don't typically offer the same breadth of features that variable rate mortgages do. Additionally, most lenders impose limits on the amount of extra repayments a fixed rate borrower can make without incurring penalties, often capping it at around $10,000 per year.

If a home loan jampacked with features is important to you, a fixed home loan may not be suitable.

Should you fix your home loan interest rate?

If you answer 'yes' to any of these questions, you might be a prime candidate for a fixed rate home loan:

When might a fixed rate mortgage not be the best choice?

On the other hand, if you plan to make many extra repayments, hope to refinance sooner rather than later, or are expecting interest rates to fall, a variable rate mortgage might be more your cup of tea.

How to find the best fixed rate home loans in Australia

Hunting for the most competitive fixed rate home loan available right now? You've come to the right place! YourMortgage.com.au brings together fixed rate home loans from dozens of lenders, allowing you to compare mortgages from all corners of the market at the click of a button.

If you know what you're after, use the filters to sort through the cheapest mortgages that fit your needs. Or if you're less certain, browse the market by scrolling the table above.

What's the cheapest fixed interest rate period?

Looking through all the mortgages on the table above, you might notice that some fixed rate periods offer notably more competitive rates than others.

Lenders set fixed rates based on their predictions of future interest rate movements. Higher rates for longer terms may reflect expectations of rising future rates, while lower rates could be a sign lenders anticipate rate drops.

As of September 2025, two- and three-year fixed home loan rates are generally lower than variable home loan rates.

That's because the market broadly expected interest rates to fall from here. However, with some fixed products pricing in as many as two RBA rate cuts, some home loan hunters may be seeing value in fixed rates right now.

How popular are fixed mortgage rates in Australia?

Australia has long favoured variable rate home loans, but borrowers here appear willing to take up fixed rates when opportunity strikes.

Take mid-2021, for instance, when new home loan interest rates hit mid-pandemic lows of ~2% p.a. – around that point in time nearly 45% of new mortgages funded were fixed rate, according to Australian Bureau of Statistics (ABS) data.

However, the popularity of fixed rate home loans waned in 2022, falling below 10% of new home loans written shortly after the RBA began hiking the cash rate and to under 3% of new loans by late-2023. At that point the ABS discontinued measuring the uptake of fixed and variable rates.

Fast forward to September 2025 and fixed rates have slipped to sit below their variable counterparts. Though, borrowers don't seem to have taken up the offers.

CommBank recently gave us a peak behind the curtain, revealing just 1% of home loans written in 2024 and 2025 had fixed rates. It was the same story at Westpac in the first half of 2025, while only 3% and 4.5% of ANZ and NAB's respective Australian mortgage books remain fixed as of March 2025.

Benefits and drawbacks of fixed rate home loans

There are many things to consider before deciding to take out a fixed rate home loan. Here are a few of the advantages and disadvantages of fixed mortgage rates:

Pros of a fixed rate home loan

• Stability
  A fixed home loan can offer more stability than a variable home loan as your repayments won't change during the fixed loan period, making it easier to budget for other things.

• Protection from rate hikes
  Fixing your mortgage interest rate also means you'll be protected from any rate hikes during the fixed rate period. However, if variable rates drop during the fixed period, you could end up paying more than the average punter

Cons of fixed rate home loans

• Less flexibility
  However, fixed rate home loans can be less flexible than variable home loans, which generally have more home loan features like an offset account or redraw facility. If you were to refinance your home loan or sell your property during the fixed period, you might incur significant break costs.

• No rate cuts
  Of course, one of the major benefits that fixed rate home loans offer – protection from rate hikes – can be a double-edged sword. Borrowers taking out a fixed rate mortgage won't benefit if interest rates were to be cut during their fixed rate period.

What happens when a fixed rate home loan expires?

Fixed rates only last for so long, and a mortgage holder has three options:

1. Re-fix their mortgage interest rate

They can choose to enter into a new fixed rate agreement. They might choose to fix for a shorter term or for multiple years. Generally their lender will reach out before their rate expires to chat details.

2. Realise their revert rate

If they don't refix, their home loan rate will likely revert to a variable rate. This may be the lender's standard variable rate or a more competitive option, depending on discussions between the borrower and lender.

3. Refinance their home loan

The final option is to change your home loan up, refinancing to a different product or lender entirely. It's likely an option worth considering, given the end of a fixed rate marks at least one year since the last time you've adjusted your home loan.