Current state of home loans in Australia

With interest rates at an all-time low and property prices on the rise, many people are wondering whether now is the time to buy a home or investment property. There are a number of factors to consider when making the decision to buy a property, and it’s important to speak to a financial advisor to get the most accurate advice for your individual situation. However, there are some general trends that can be observed in the home loan market at the moment. Here’s a quick overview of the Current State of Home Loans in Australia.

What has changed in the last 12 months?

Over the last 12 months, we have seen some changes in the home loan market in Australia. In the past, most home loans were variable-rate loans, which meant that the interest rate could change over time. However, fixed-rate home loans have become more popular in recent years, as borrowers are looking for certainty in their repayments. The Reserve Bank of Australia has also kept interest rates on hold at historically low levels over the last 12 months, which has helped to keep repayments affordable for many borrowers. There has been an increase in the number of people looking to refinance their home loans over the last 12 months as well.

What is the current interest rate?

The current interest rate for home loans in Australia is 4.94%. This is the average market interest rate for all home loan products. The interest rate for home loans has been on a gradual decline since the beginning of the year. This is good news for those looking to purchase a home or refinance their current home loan. The current interest rate is still relatively high when compared to historical rates. However, it is still lower than what we have seen in recent years. This makes now a great time to purchase a home or refinance your current home loan.

The current state of the housing market

It’s no secret that the housing market in Australia is currently in a slump. Property prices have been falling for several years now, and the number of homes being sold has also dropped significantly. This has left many homeowners struggling to keep up with their mortgage repayments, and as a result, the number of home loan defaults has risen sharply. The good news is that interest rates are currently at historic lows, which means that repayments on a home loan are more affordable than they’ve been in years. However, with prices still falling, many people are choosing to wait until the market stabilizes before buying a property.

How easy is it to get a home loan?

The current state of home loans in Australia is one of frustration for many would-be buyers. It is now harder to approve a loan, with the average rejection rate rising to 30%. This is due to the stricter lending criteria that banks have put in place since the Global Financial Crisis. Getting a home loan in Australia depends on a number of factors, including your income, your savings, your employment history, and your credit history. If you have a good income and a healthy deposit, you should be able to get a loan approved. However, if you’re self-employed or have a bad credit history, you may find it more difficult to get a loan.


In conclusion, the current state of home loans in Australia is such that there is a wide range of products available, with a variety of interest rates and terms on offer. It is important to research and compare home loan products before making a decision. There are a number of online calculators and tools available to help you compare home loans and find the best deal for your circumstances.

Please get in touch with Fincue regarding any queries related to the current state of home loans in Australia or other services offered by Fincue. You can call us at +61 490 348 767 or shoot an email at info@fincue.com.au.