Would-be homebuyers who are looking to take advantage of the low-rate environment should consider getting a fixed-rate home loan.
According to Your Mortgage's database of fixed home loans, UBank currently offers the lowest fixed rate in the market at 2.69%. This fixed rate is available under UBank's three-year owner-occupied loan at a principal-and-interest (P&I) basis. This product has a maximum loan-to-value ratio of 80% and a minimum loan amount of $100,000. To know more about this loan offer, click here.
ING also offer a sub-3% fixed rate at 2.84%. This rate is available under ING's Fixed Rate Home Loan - Orange Advantage loan offer, which has a fixed term of three years. This owner-occupied loan is on a P&I basis. Get more information about the loan by clicking here.
NAB's Tailored Home Loan - Choice Package has a fixed rate of 2.88% for a two-year term and is catered specifically to first-home buyers. It has no application or monthly service fees and comes with a credit card that has no annual charges. Find out more about this offer here.
ME Bank provides the similar rate of 2.88% for a two-year fixed term. Its Flexible Home Loan with Member Package has several features, including an offset account, free redraws, and repayment holidays. More information can be found here.
Aussie's 2.89% fixed rate is available for a two-year term under two products: Aussie Select and Aussie Elevate Fixed. Of the two products, the latter has more benefits, including an offset account, unlimited redraws, and additional repayments.