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Home loan rates in Australia, September 2026

As of 17 September 2026, the lowest owner-occupier variable home loan comparison rate tracked by BankMate (principal and interest, LVR at or below 80%) was 5.85% from Unity Bank (Essential Worker Home Loan - Owner Occupier). The average across 107 such loans was 6.76% (median 6.44%). Advertised variable rates averaged 6.67%, 2.32 points above the RBA cash rate of 4.35%. The lowest 2-year fixed rate was 6.04% from Up; the 2-year average of 7.00% sat 0.23 points above the variable average. The Big 4's lowest variable rates averaged 0.11 points above the market. No rate changes were recorded during September 2026.

Lowest variable rates

Owner-occupier · P&I · LVR ≤80% · 107 loans
  1. 🏘️
    1
    5.85%comparison · 5.80% advertised
    Unity BankEssential Worker Home Loan - Owner OccupierVariable · P&I · Owner-occupier
    Go to site
  2. 🏘️
    2
    5.93%comparison · 5.90% advertised
    Unity BankQLD BOOST TO BUYVariable · P&I · Owner-occupier
    Go to site
  3. 🏘️
    3
    5.93%comparison · 5.90% advertised
    Unity BankVic Homebuyer FundVariable · P&I · Owner-occupier
    Go to site
  1. 4
    🏘️
    Unity Bank First Home Buyer Loan - Owner Occupied - SO5.95%
  2. 5
    🏘️
    Unity Bank Australian Government 5% Deposit Scheme5.95%
  3. 6
    ⬆️
    Up Up Home Loan5.95%
  4. 7
    🌳
    Bendigo Bendigo Express Home Loan6.02%
  5. 8
    🏦
    BCU OMG Home Loan (P&I) LVR<606.02%
  6. 9
    🏘️
    Unity Bank Momentum Home Loan 60LVR - Owner Occupier - Variable - P&I SO6.04%
  7. 10
    💳
    ING Mortgage Simplifier6.07%
Compare all 1131

Ranked by comparison rate, which folds most fees into the rate on a $150,000 loan over 25 years (the ASIC standard); the advertised rate is shown beside it. One row per loan variant at the LVR band covering 80%; where a lender publishes no comparison rate the advertised rate is used.

Fixed-rate ladder

Owner-occupier · P&I · lowest and average by term
Fixed termLowestAverageMonth change
1-year · 495.99%7.04%—
2-year · 496.04%7.00%—
3-year · 506.06%6.97%—
4-year · 356.11%6.98%—
5-year · 496.15%7.01%—

“vs variable avg” is each term's average against the variable average above; fixed below variable is lenders pricing in cuts. “Month change” compares the term's average with the same figure reconstructed for the previous month.

Investor and interest-only

Lowest variable comparison rates

Investor · P&I

  1. 1
    🏦
    easyStreet STREET SMART VARIABLE HOME LOAN - INVESTMENT (Principal and Interest)Variable · P&I · Investor6.14%
  2. 2
    💳
    ING Mortgage SimplifierVariable · P&I · Investor · ≤80% LVR6.22%
  3. 3
    🌳
    Bendigo Bendigo Easy Home LoanVariable · P&I · Investor · ≤80% LVR6.25%
  4. 4
    🏦
    MyState Special Residential Variable LoanVariable · P&I · Investor · ≤80% LVR6.29%
  5. 5
    🏦
    MyState Basic Variable LoanVariable · P&I · Investor · ≤80% LVR6.29%

Owner-occupier · interest only

  1. 1
    🏢
    Westpac Flexi First : Our lowest online variable home loan rate (Owner Occupied)Variable · Interest Only · Owner-occupier · ≤80% LVR5.96%
  2. 2
    🚀
    MOVE Bank Everyday Home LoanVariable · Interest Only · Owner-occupier5.99%
  3. 3
    🚀
    MOVE Bank Offset Home LoanVariable · Interest Only · Owner-occupier6.19%
  4. 4
    🏦
    easyStreet STREET SMART VARIABLE HOME LOAN - OWNER-OCCUPIED (Interest Only)Variable · Interest Only · Owner-occupier6.20%
  5. 5
    💳
    ING Mortgage SimplifierVariable · Interest Only · Owner-occupier · ≤80% LVR6.24%

The Big 4

+0.11 pts vs market average
  • 🏦
    6.27%lowest variable
    Commonwealth Bank2-year fixed 7.89%
  • 🏢
    6.85%lowest variable
    Westpac2-year fixed 8.79%
  • 🏛️
    6.26%lowest variable
    ANZNo 2-year fixed
  • 🏪
    6.22%lowest variable
    NAB2-year fixed 6.83%

Each bank's lowest owner-occupier P&I variable comparison rate and its lowest 2-year fixed. ANZ Plus counts as ANZ. The premium is the Big 4's average lowest variable rate less the market average.

Rate changes in September

Cuts

None recorded this month.

Rises

None recorded this month.

One row per lender and direction, counting every variant and LVR band that moved; open a row for the variants. A lender re-pricing its book is one story. Where a move landed within 45 days of an RBA decision in the same direction, the lag is shown.

How this report is produced

Data
Each lender's Consumer Data Right (open banking) product feed, re-read nightly. A change is recorded when a variant's published comparison or advertised rate differs from the last value stored. The cash rate is the RBA's published target.
Figures
This is the current month, so the tables show live rates. Changes compare the last rate before the month with the last rate within it. 2674 history entries fall in this month. Tracking began in September 2026.
Scope
Home loans open to Australian residents, as listed on BankMate, across 32 lenders. Not financial advice. Methodology · Today's full ranking