What is the average 15 year mortgage?
The national average 15-year fixed mortgage APR is 3.500%, up compared to last week’s of 3.470%. Whether you’re buying or refinancing, Bankrate often has offers well below the national average to…
What is the average home loan rate in Australia?
The average Australian home loan for March 2018 was $388,100 according to the Australian Bureau of Statistics (ABS). But that figure alone only tells part of the story. We look at the reality behind Australia’s mortgages, as well as exploring whether it is becoming more difficult to service the average home loan.
What is the current interest rate in Australia?
The cash rate is Australia’s official interest rate which is currently held at a target of 0.10% by the Reserve Bank of Australia (RBA). It has remained at this rate since March 2020, with the RBA indicating it is unlikely to lift it until annual inflation is within the 2-3% target range.
What are the current home loan interest rates?
Unfortunately, you may have already missed the boat. Fixed-rate mortgages have already doubled from around 2 per cent to around 4 per cent since last year, with a typical three-year rate at a big bank now at 4.59 per cent and up to 4.99 per cent for a five-year loan. But standard variable rates are still low as 2.19 per cent as of Tuesday morning.