The 'Freedom Fixed' loan is 1.99% p.a. (2.43% p.a. comparison rate*), and makes it the 14th lender in Savings.com.au's market research to break the sub-2% barrier.

Freedom Lend also raised a number of other fixed loans, primarily in the investment space, by up to 70 basis points. 

Elsewhere, ING cut investment home loans by between 45 and 50 basis points, while Citi also made a wide variety of changes by up to 30 basis points.

Buying a home or looking to refinance? The table below features home loans with some of the lowest variable interest rates on the market for owner occupiers.

Update resultsUpdate
Filters
LenderHome LoanInterest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees Max LVR Lump Sum Repayment Extra Repayments Split Loan Option TagsFeaturesLinkComparePromoted ProductDisclosure
5.54% p.a.
5.58% p.a.
$2,852
Principal & Interest
Variable
$0
$530
90%
  • Owner Occupier
  • Variable
  • Principal & Interest
  • 10% Min Deposit
  • Redraw
  • Extra Repayments
  • More details
  • Available for purchase or refinance, min 10% deposit needed to qualify.
  • No application, ongoing monthly or annual fees.
  • Quick and easy online application process.
Disclosure
5.49% p.a.
5.40% p.a.
$2,836
Principal & Interest
Variable
$0
$0
80%
  • Built and funded by CommBank
  • Owner Occupier
  • Variable
  • Principal & Interest
  • 20% Min Deposit
  • Redraw
  • More details
  • No application or ongoing fees. Annual rate discount
  • Unlimited redraws & additional repayments. LVR <80%
  • A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank.
 Disclosure
5.64% p.a.
5.89% p.a.
$2,883
Principal & Interest
Variable
$250
$250
60%
  • 100% offset
  • Owner Occupier
  • Variable
  • Principal & Interest
  • 40% Min Deposit
  • Offset
  • Redraw
  • More details
  • Easy application. Fast approval. 100% offset.
  • Unlimited additional repayments free of charge.
  • Redraw available - Access additional payments.
 Disclosure
5.64% p.a.
5.89% p.a.
$2,883
Principal & Interest
Variable
$248
$350
60%
  • Owner Occupier
  • Variable
  • Principal & Interest
  • 40% Min Deposit
  • Offset
  • Redraw
  • More details
  • Check your eligibility in as little as one minute
 Disclosure
Important Information and Comparison Rate Warning

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of . View disclaimer.

Important Information and Comparison Rate Warning
Compare More Home Loans

Some of ING's changes were:

  • Inv Mortgage Simplifier P&I 150k-499k: 50 basis point cut to 2.69% p.a. (2.72% p.a. comparison rate*)
  • Inv Orange Advantage P&I 150k-499k: 50 basis point cut to 2.74% p.a. (3.08% p.a. comparison rate*)
  • Inv Fixed P&I 2 Years: 45 basis point cut to 2.49% p.a. (4.38% p.a. comparison rate*)

Late last month, ING cut the rate of its popular Savings Maximiser account down to 1.50% p.a., after reducing it just two months earlier.

Earlier in the week, Citi cut in excess of 40 home loans by between 5 and 30 basis points. Some of the highlights were:

  • Mortgage Plus Inv Standard Fixed IO 5 Years: 30 basis point cut to 2.89% p.a. (3.51% p.a. comparison rate*)
  • Mortgage Plus P&I 5 Years 80% 350k+: 20 basis point cut to 2.39% p.a. (2.97% p.a. comparison rate*)
  • Standard Fixed P&I 3 Years 80% 350k+: 10 basis point cut to 2.09% p.a. (4.45% p.a. comparison rate*)

A busier week for rate cuts

Last week, neobank 86 400 was the only lender to cut home loan interest rates, but this week activity picked up a bit.

Tic:Toc introduced one of the lowest ever home loans for those with just a 10% deposit, down to 2.19% p.a. (2.20% p.a. comparison rate*)

Another online lender, homeloans.com.au, cut a few rates to investment home loans, with the lowest 'Low Rate' home loan paying P&I with maximum 60% LVR now down 20 basis points to 2.29% p.a. (2.31% p.a. comparison rate*).

Macquarie Credit Union - not to be confused with Macquarie Bank - cut a few fixed loans, with the highlight being the 3 Year Fixed Home Loan for owner occupiers paying P&I, down 18 basis points to 2.79% p.a. (4.06% p.a. comparison rate*)

Another credit union, People's Choice, also cut a few home loans, with the highlight its Basic Variable loan for investors paying P&I with a maximum LVR of 80%, down by 40 basis points to 2.69% p.a. (2.69% p.a. comparison rate*).

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