Compare Interest Rates

Compare Interest Rates Now

Are you looking to buy a home and are getting confused about what interest rate best suits your needs? Not sure whether you should lock in your home loan to a fixed interest rate or keep a percentage of it variable? Do you want to compare all the various banks interest rates in one place? At Compare Home Loans Now, we monitor and track Australia’s largest financial institutions interest rates (we keep an eye on Westpac, Commonwealth, ANZ & NAB, as well as other smaller lenders and credit unions), to bring you the lowest interest rates on the market. We are also up to date with the Reserve Banks current cash rate and are quick to tell you about the banks reaction to their interest rates with any movement in the cash rate.

For you the consumer this is fantastic news as you are full armed with all the information you need to make the best decision when it comes to organising your home loan and who to go with.

If you need to find the best home loan interest rates in Australia; both fixed and variable, we have this information available to you on this website. Essentially, you are 1 click away from saving thousands of dollars in extra payments to your ban on your home loan. Comparing interest rates is the smartest move you can make when it comes to securing your home loan.

When you are doing your homework about which home loan you should go with and your comparing charts of interest rates all this can get very confusing. Some of the more appealing cheaper bank interest rates may seem like a great idea now, but there are hidden fees and penalties with these loans. You have to be extremely careful and tread very wisely before making any type of commitment.

At Compare Home Loans Now, we level the playing field by providing you with comparison rates of interest that include every bit of information regarding the loan. Basically, we uncover and tell you what the banks and your mortgage broker won’t. Why? Because this is a neutral service and our goal is to help you secure and compare the best home loan interest rates on the market. We are not tied to any bank of any financial institution. We are completely independent which allows us to give you as much information as possible.

How are interest rates set for home loans?

They are set by the Reserve Bank of Australia and this is a standard which banks use to set their own interest rates. If the Reserve Bank decides to raise interest rates, then the banks will follow this immediately. The Reserve Bank meets once a month to determine these sets of interest rates and their decision is based on a current economic decisions both here in Australia and worldwide. Often external economic factors like oil prices, rates of inflation, the strength of China’s and the US economy, gold prices and employment factors will have a significant bearing on the Reserve Banks decision. Basically, if the Reserve Bank wants to tighten monetary lending and put a break on the economy and inflation they will raise interest rates. Conversely if the economy is sluggish and they want to get things moving and encourage spending they will reduce interest rates.

This is why its’ vital that you know the difference between fixed and variable interest rates when it comes to your home loan.

Most people will split their home loan between fixed and variable this way they hedge their bets.

A fixed interest rate is one where no matter what happens with the Reserve Banks decision your interest rate will never move, It remains constant. Great news if rates go up and bad if they go down. These types of fixed rates are generally between 1-5 years and gives the consumer a level of comfort and certainty knowing that what ever happens they know the exact amount they need to repay the bank each month.

A variable interest rate depends on the Reserve Banks cash rate decision and will move accordingly. Tis rate can change day to day and for some home loan borrowers this can be unnerving.

So what do you look for when choosing your interest rate?

If your borrowing for a home then you have to shop around and compare as many interest rate packages as you can. Go online, browse around and do your research on as many websites as you can to see what’s on offer. Remember you aim is to secure the very lowest interest rates without all the added fees and penalties associated with breaking any loan. This may seem overwhelming but at Compare Home Loans Now we have made this process as easy as possible by bringing you all the lenders in one place. You do not have to look any where else.

How can you find the best interest rates today?

It’s extremely important and so vital for your financial future that you don’t rush in and pick the first home loan interest rate on the market offered to you. Tis is why you should use our services and we can promise you 1 thing that you will be saving heaps of money. We will guide you through the home loan process while at the same time help you knock years off your mortgage.

Please use our home loan comparison pages! This is the very best thing you can do and your first steps to making great savings when looking for the lowest interest rate. Our table is so easy to use as you can see a comparison of all the best bank offers on the market. All you have to do is compare and choose…simple as that.