RateGapevery home loan rate lenders publish, compared

The Mac home loan rates

The Mac's lowest advertised variable rate for a home you live in and pay down is 6.99%, read Monday 2 November. That is 1.14 percentage points above the going rate of 5.85% across every lender. Its lowest fixed rate is 6.49%, fixed for three years.

Have a loan with The Mac? Compare your rate

Since the Reserve Bank’s increase on Tuesday 29 September, The Mac has raised its lowest advertised variable rate from 6.74% to 6.99%. The change was first seen Saturday 31 October. After the Reserve Bank’s increase has every lender.

28 advertised rates across 28 products, published by The Mac under the Consumer Data Right. Last read Monday 2 November, yesterday. No lender pays to be listed.

Where it sits

6.99% The Mac, lowest variable rate open to anyone
5.85% The going rate
1.14 percentage points above the going rate

The going rate is the lowest rate at least three lenders reach, so one lender's odd price cannot set it.

Both are advertised new-customer rates. A negotiated discount is in neither. Read your own rate against this.

Lowest variable rate, open to anyone
6.99%
Lowest fixed rate
6.49%, three years
Lowest comparison rate
6.81%
Rates published
28, across 28 products
Last rate move
Friday 30 October
Last read
Monday 2 November

For a home you live in and pay down. The other loan types are in the tables below.

Owner-occupied, principal and interest

Variable

Fixed

Discounts The Mac publishes beside these prices. Each comes off a product's rate, so none is a rate of its own:

No rate here says how much of the property's value it applies to. That is what The Mac publishes. It says nothing about how much it will lend.

Investment, principal and interest

6 rates

Variable

  • LOW LVR INV P&I HOME LOAN · 7.29% (7.11% with fees)
  • BASIC VARIABLE LOAN INVESTOR P&I · 8.17% (7.99% with fees)
  • MORTGAGE OFFSET INVESTOR PI · 8.17% (7.99% with fees)

Fixed

  • MORTGAGE 3YR FIXED INVESTOR P&I · three years · 6.59% (7.59% with fees)
  • MORTGAGE 1YR FIXED INVESTOR P&I · one year · 6.69% (7.84% with fees)
  • MORTGAGE 2YR FIXED INVESTOR P&I · two years · 6.69% (7.71% with fees)

No rate here says how much of the property's value it applies to. That is what The Mac publishes. It says nothing about how much it will lend.

Investment, interest only

6 rates

Variable

  • LOW LVR INV IO HOME LOAN · 7.49% (7.13% with fees)
  • BASIC VARIABLE LOAN INVESTOR IO · 8.37% (8.01% with fees)
  • MORTGAGE OFFSET INVESTOR IO · 8.37% (8.01% with fees)

Fixed

  • MORTGAGE 3YR FIXED INVESTOR IO · three years · 6.79% (7.65% with fees)
  • MORTGAGE 1YR FIXED INV IO · one year · 6.89% (7.86% with fees)
  • MORTGAGE 2YR FIXED INVESTOR IO · two years · 6.89% (7.75% with fees)

No rate here says how much of the property's value it applies to. That is what The Mac publishes. It says nothing about how much it will lend.

Restricted to particular groups

ProductWho it is forRate
FIRST HOME BUYERS OWNER OCCUPIED P&I a particular group only, per its published conditions 6.17%
GOVT LOW DEP VARIABLE OOC PI first home buyers only 6.17%
GOVT LOW DEP 3YR FIXED OOC PI first home buyers only 6.49%
GOVT LOW DEP 1YR FIXED OOC PI first home buyers only 6.59%
GOVT LOW DEP 2YR FIXED OOC PI first home buyers only 6.59%
BRIDGING LOAN a particular group only, per its published conditions 8.87%

The data says a product is restricted. It never says whether you would get it. On the comparison every one of these can be put back with a click, and every figure is worked out again.

What changed

The Mac last moved a rate on Friday 30 October. Every rate is read each morning and has come back the same since.

Every lender that publishes rates, and every rate move since capture began.

Beside it

Of 93 lenders with a variable rate anyone could take for a home you live in and pay down, 86 publish a lower one than The Mac's 6.99%. The nearest either side:

Does this look wrong? or could it be better

Two different things go wrong here and they are fixed in different places. If a rate on this page does not match what The Mac told you, it is usually one of these.

The published data is wrong

The Mac publishes these rates itself, under the Consumer Data Right. Nobody here types them in and nothing here can correct them at the source. If the feed is wrong, every comparison site reading it is wrong in the same way. Reports about a data holder's feed go to the Consumer Data Right, and published-data quality is on the ACCC's enforcement list.

Everything identifying the feed is filled in below. The one part left is what you saw.

Consumer Data Right — Product Reference Data quality

Data holder brand: The Mac
ABN: 83087650244
Product Reference Data endpoint: https://onlinebanking.themaccu.com.au/OpenBanking
Data read from that endpoint on: Sunday 1 November
Rate lines published at that time: 28

What appears to be wrong:
[describe what you checked, and what the published data says]

This data is published under the Product Reference Data standard and is
available publicly, without authentication or a consumer consent.
Open the report form in a new tab ↗

The form is run by the Consumer Data Right, not by this site. Nothing you type here is sent anywhere — the text above is yours to copy.

This page reads it wrongly

The rate is published correctly and this page has misread it. A band shown against the wrong loan type, a fee counted twice, a product that should be marked restricted and is not: that one is mine. Tell me and I will fix it, and say which lender so I can find the row.

Something is missing

A figure this page should show and does not, or a lender that should be here and is not. Tell me through the feedback box. The data behind every page here is free to download if you would rather check it yourself first.

Free, and not advice. It knows only what the lender publishes, not what you could negotiate. A licensed broker does this for a living. Who made this. What this site collects.

More from the data

Building something with this? There is an API, and the data is free.

This morning: the market, variable rates, fixed rates and what moved this week.

Found in the data: what lenders charge above 80%, the rate a fixed loan rolls onto and what a comparison rate adds. Also what an offset costs, and what investors pay on top.