The Standard Variable board
Australian home loan interest rates today
Four dated numbers from the Reserve Bank, and what a quarter point does to a repayment. Market averages, never a lender or a product.
What 0.25% means
30 years, principal and interest, monthly repayments, fees not included. 6.20% is the RBA average for new owner-occupier variable loans in August 2026, not an offer.
Sources: RBA Cash Rate Target table; RBA statistical table F6, Housing Lending Rates (published monthly). Checked 26 October 2026.
Rates by loan type · July 2026
Home loan interest rates in Australia, by type of loan
RBA housing lending rate averages for August 2026. Compare the dated rows by borrower and loan type; these are market averages, not quotes for a particular applicant.
| Loan | July 2026 | July 2025 | Change (points) |
|---|---|---|---|
| Owner-occupier, variable, new loans | 6.2% | 5.8% | +0.4 |
| Owner-occupier, fixed 3 years or less, new loans | 6.3% | 5.4% | +0.9 |
| Owner-occupier, fixed over 3 years, new loans | 6.9% | 6.1% | +0.8 |
| Owner-occupier, variable, existing loans | 6.2% | 5.8% | +0.4 |
| Investor, variable, new loans | 6.4% | 5.9% | +0.5 |
| Investor, fixed 3 years or less, new loans | 6.4% | 5.6% | +0.8 |
| Investor, fixed over 3 years, new loans | 7.0% | 6.7% | +0.3 |
| Investor, variable, existing loans | 6.5% | 6.0% | +0.5 |
Source: RBA statistical table F6, Housing lending rates (APRA, RBA), published 7 September 2026. All lenders; averages, not offers. Table F6 rounds to one decimal place.
This month in rates · 30 September 2026
RBA lifts cash rate to 4.60 per cent, its fourth rise this year
The Monetary Policy Board raised its target by a quarter of a point on Tuesday, pointing to higher fuel prices and inflation that has run above its forecasts. It is the highest cash rate since 2011.
September 2026 background, kept as a dated snapshot. The live rate and next decision are on the board above.
- 29 Sep The Board lifts the target 0.25 points to 4.60%, its fourth rise of 2026.
- 30 Sep The new target takes effect; the big banks start announcing variable rate rises.
- Late Oct September quarter inflation figures, the number the forecasters are watching.
- 3 Nov Next decision, 2.30 pm AEDT.
Questions people ask
Quick answers
What is the RBA cash rate today?
4.60%, from 30 September 2026. Read more
When is the next RBA meeting?
2 to 3 November 2026; the decision is at 2.30 pm AEDT on Tuesday 3 November. Read more
Will interest rates go up again?
Two of the big four banks' economists expect one more rise in November; two expect a hold. Read more
What is the average home loan rate?
6.20% on new owner-occupier variable loans in August 2026, the RBA's latest figure. Read more
How much is a $500,000 mortgage a month?
About $3,062 over 30 years at 6.20%, before fees. Read more
What is a comparison rate?
One yearly figure that folds a loan's interest rate and most fees together, set by law. Read more
Paying more than the average?
How to get a lower home loan rate
- Ask your lender first. ASIC’s Moneysmart says to tell your lender you plan to switch to a cheaper loan; to keep you, it may cut your rate. Having at least 20% equity and a good credit score gives you more to bargain with.
- Compare against the averages above. If your rate is well above the average for your type of loan, there is room to move. Compare loans on their comparison rate, which includes most fees.
- Count the cost of switching. Break fees on fixed loans, discharge and application fees, and lenders mortgage insurance if you have less than 20% equity can eat the saving. How to refinance, step by step.
- Decide whether to use a broker. A broker compares many lenders for you and is paid by the lender. Broker or bank: how each is paid.
Source: ASIC Moneysmart, Switching home loans, read 4 October 2026. General information only, not advice.
Since 1959
Sixty-seven years of Australian home loan rates
The banks' standard variable rate peaked at 17% in 1989 and 1990. Today's list rate is 8.77%, and the average new variable loan is written at 6.20%. What the standard variable rate is, and why few people pay it.
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