Best Home Loan Rates Australia — April 2026
We compare Australia’s lowest variable and fixed home loan rates so you don’t have to. Updated daily. No ads. No hidden agendas.
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All Home Loan Rates — April 2026
Sorted by interest rate. Comparison rate includes fees. RBA cash rate: 4.10%.
| Lender | Rate p.a. | Comp. Rate | Type | Key Features | Rating | |
|---|---|---|---|---|---|---|
| UBank Neat Variable LOWEST RATE | 5.74% | 5.76% | Variable | Offset ✓ Redraw ✓ No fees ✓ | ★★★★★ | Get Rate → |
| Macquarie Bank Basic Variable (3yr fixed) POPULAR | 5.79% | 6.18% | Fixed 3yr | Redraw ✓ Online ✓ | ★★★★★ | Get Rate → |
| ANZ SimpliHome Variable | 5.89% | 5.91% | Variable | Offset ✓ 900+ branches ✓ | ★★★★★ | Get Rate → |
| NAB Variable Rate (FHB) FHB BONUS | 5.94% | 5.96% | Variable | FHB scheme ✓ Offset ✓ | ★★★★★ | Get Rate → |
| St George Variable Rate (FHB) FHB SPECIAL | 5.99% | 6.02% | Variable | FHB scheme ✓ Cashback ✓ | ★★★★★ | Get Rate → |
| Commonwealth Bank Extra Variable | 6.09% | 6.11% | Variable | CommBank app ✓ Offset ✓ | ★★★★★ | Get Rate → |
| Westpac Flexi First Option | 6.14% | 6.17% | Variable | Redraw ✓ Online mgmt ✓ | ★★★★★ | Get Rate → |
*Comparison rate calculated on $150,000 loan over 25 years. Rates current as of April 2026 and subject to change. Always verify directly with the lender.
How FinSight Picks Our Top Rates
Best Variable Home Loan Rates — April 2026
The table below shows the most competitive variable home loan rates in Australia as of April 2026. The RBA cash rate is 4.10% and further cuts are forecast — variable rates may fall further through 2026.
| Lender | Interest Rate | Comparison Rate* | Type | Get Rate |
|---|---|---|---|---|
| UBank Neat Variable LOWEST RATE | 5.74% | 5.76% | Variable | Get Rate → |
| ANZ SimpliHome Variable POPULAR | 5.89% | 5.91% | Variable | Get Rate → |
| Commonwealth Bank Extra Variable | 6.09% | 6.11% | Variable | Get Rate → |
| Westpac Flexi First Option | 6.14% | 6.17% | Variable | Get Rate → |
| ING Orange Advantage (2yr fixed) 2YR FIXED | 5.69% | 6.21% | Fixed 2yr | Get Rate → |
| Macquarie Bank Basic Variable (3yr fixed) POPULAR | 5.79% | 6.18% | Fixed 3yr | Get Rate → |
| NAB Variable Rate (FHB) FHB BONUS | 5.94% | 5.96% | Variable | Get Rate → |
| St. George Basic Variable (FHB) FHB SPECIAL | 5.99% | 6.02% | Variable | Get Rate → |
*Comparison rates based on a $150,000 loan over 25 years. Rates are indicative and subject to change — always verify directly with the lender. Updated April 2026.
Variable vs Fixed Home Loans in 2026 — Which Is Better?
- Benefits from future RBA cuts
- More flexible — extra repayments, offset accounts
- No break costs if you refinance
- Currently lower than most fixed rates
- Certainty on repayments
- Protects against rate rises
- May miss out on rate cuts
- Break costs if you leave early
How to Get the Best Home Loan Rate
- Compare comparison rates — the headline rate hides fees. Always compare the comparison rate.
- Build a 20% deposit — loans with LVR below 80% get significantly better rates and avoid LMI.
- Improve your credit score — pay all bills on time, reduce credit card limits, avoid new credit applications.
- Consider a mortgage broker — brokers have access to wholesale rates and can negotiate on your behalf.
- Refinance regularly — loyalty doesn’t pay. Refinancing every 2–3 years can save tens of thousands.
Frequently Asked Questions
Rates are indicative and sourced from publicly available lender information. Always verify directly with the lender before applying. This is general information only and not financial advice.
How to Compare Home Loan Rates in Australia (2026)
Finding the best home loan rate in Australia takes more than just looking at the headline interest rate. The comparison rate — which includes most fees and charges — gives you a much clearer picture of the true cost of a loan. A loan advertised at 5.89% p.a. might have a comparison rate of 6.21% p.a. once fees are factored in.
Here’s what to look for when comparing home loan rates:
- Interest rate type — Variable rates move with the RBA cash rate. Fixed rates lock in for 1–5 years. Split loans combine both.
- Comparison rate — Always compare this, not just the advertised rate. It includes most fees.
- Offset account — An offset account linked to your home loan can save tens of thousands in interest over the life of the loan.
- Redraw facility — Lets you access extra repayments you’ve made if you need cash.
- LVR requirements — Most lenders require a 20% deposit (80% LVR) to avoid Lenders Mortgage Insurance (LMI).
- Cashback offers — Some lenders offer $2,000–$4,000 cashback on refinancing. Factor this in when comparing.
Variable vs Fixed Home Loan Rates — Which is Better in 2026?
With the RBA cash rate at 4.10% (as of April 2026) and widely expected to fall further through 2026, most financial commentators suggest variable rates may be more favourable right now. Here’s why:
- Variable rate loans will automatically decrease when the RBA cuts rates — which most economists expect will happen 2–3 more times in 2026.
- Fixed rate loans lock you in — if rates fall, you miss out on the savings. Break costs can also be significant if you need to exit early.
- Split loans offer a middle ground — fix part of your loan for certainty on that portion while keeping some exposure to potential rate cuts.
This is general information only — not financial advice. Speak to a licensed mortgage broker before deciding on your loan structure.
What is the Lowest Home Loan Rate in Australia Right Now?
As of April 2026, the lowest variable home loan rates available to owner-occupiers paying principal and interest are around 5.74%–5.89% p.a. from online lenders like UBank and ING. The major banks (ANZ, CommBank, NAB, Westpac) typically sit 0.3%–0.6% higher than online lenders for equivalent loans.
Refinancing from a big bank rate of 6.5% to a competitive rate of 5.89% on a $500,000 loan saves approximately $200/month or $2,400/year in repayments. Over 25 years, that’s over $50,000 in interest savings.
💡 Quick Tip: Use the Comparison Rate
A home loan with a rate of 5.74% p.a. and a comparison rate of 6.10% p.a. is actually more expensive than one with 5.89% p.a. and comparison rate 5.95% p.a. — because the fees on the first loan are higher. Always check the comparison rate.
How Does the RBA Cash Rate Affect Your Home Loan?
The RBA cash rate is the benchmark interest rate set by the Reserve Bank of Australia. When the RBA raises rates, variable home loan rates almost always increase — usually within a few days. When the RBA cuts rates, lenders may pass on some or all of the reduction.
Since the RBA began hiking rates in May 2022, the cash rate rose from 0.10% to a peak of 4.35% by November 2023. It was cut to 4.10% in February 2025 — the first cut in over four years. Most economists expect 2–3 more cuts through 2026, potentially taking the cash rate to 3.35%–3.60%.
On a $600,000 variable loan, each 0.25% rate cut saves approximately $85/month in repayments.
Should You Refinance Your Home Loan in 2026?
If you haven’t reviewed your home loan rate in the past 2 years, there’s a very good chance you’re paying more than you need to. Here are the key signs it’s time to refinance:
- Your current rate is more than 0.5% above the best rates in the table above
- Your fixed rate period is ending (revert rates can be significantly higher)
- Your home has increased in value (lower LVR = access to better rates)
- You want to consolidate debt into your mortgage at a lower rate
The average Australian saves $2,000–$5,000 per year by refinancing to a more competitive loan. Use our home loan repayment calculator to model different rates and see what you’d save.
Frequently Asked Questions
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