What Are The ACTUAL Home Loan Interest Rates from Major Banks Currently?

Spacexyz on 10/10/2022 - 15:12

I've been paying mortgages for 2 properties, living in one, and renting out the other. The interest rates for both will increase very soon, looking for refinancing or negotiating with the current bank for a better interest rate. AFAIK the home loan ads from major banks seem for advertising purposes only since they could give people an even lower rate or exclusive deal after a private chat by providing detailed personal info.

Feeling tired of asking them one by one, could any insider tell me what the current rates are? Especially from the major banks. For the current home loan market, would it be better on fixed or variable? BTW the OO property has about $480k P&I, the investment one has $540k P&I. Thanks.

Financial Home Loan Loan

Comments

  • silenthillrocks on 10/10/2022 - 15:14
    +4

    Start here: https://www.ozbargain.com.au/node/653711

    • Spacexyz on 10/10/2022 - 15:20

      Oh gosh, never noticed that post. I'll study it tonight, thanks.

  • AndyC1 on 10/10/2022 - 15:29

    The rates are high compared to the last 10 years and going higher.

    • Spacexyz on 10/10/2022 - 15:43

      Yes I know, I believe it's getting worse and worse.

      • Drakesy on 10/10/2022 - 15:44
        +1

        Or better and better (if you have savings ;)

        • Spacexyz on 10/10/2022 - 15:56

          Couldn’t be better if I won the latest Oz Lotto jackpot ;)

  • The Delray Misfits on 10/10/2022 - 15:49

    the investment one has $540k P&I.

    ouch

    did you recently buy within the last 2 years?

    • Spacexyz on 10/10/2022 - 15:57

      Ouch

      No.

    • brendanm on 10/10/2022 - 17:20
      +1

      How is that ouch? Could be worth $2m for all you know.

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