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Interest rates in Australia
The RBA cash rate is 4.85% and new variable home loans averaged 6.2% in August 2026. If your rate is well above that, it is worth asking your lender for a better deal.
Cash rate target4.85%4 November 2026
New variable, owner-occupier6.2%1 yr: ▲ 0.70 pt
Home loan repayment calculatorAverage housing lending rates, August 2026
Owner-occupier variable (new loans)
1 yr ▲ 0.70 pt
6.2%Owner-occupier fixed ≤3 yrs (new loans)
1 yr ▲ 1.00 pt
6.3%Owner-occupier fixed >3 yrs (new loans)
1 yr ▲ 0.80 pt
6.9%Investor variable (new loans)
1 yr ▲ 0.70 pt
6.4%Owner-occupier variable (all existing loans)
1 yr ▲ 0.70 pt
6.2%Variable (new)Fixed ≤3y (new)
Cash rate changes
4 November 20264.85%
30 September 20264.60%
6 May 20264.35%
18 March 20264.10%
4 February 20263.85%
13 August 20253.60%
21 May 20253.85%
19 February 20254.10%
8 November 20234.35%
7 June 20234.10%
Questions and answers
What is the RBA cash rate?
The cash rate target is 4.85% (4 November 2026).
What interest rate are new home loans getting?
New owner-occupier variable loans averaged 6.2% in August 2026, and fixed loans of up to 3 years 6.3% (RBA table F6).
How much would a $600,000 loan cost?
At 6.2% over 30 years, about $3,675 a month.
Source: Reserve Bank of Australia statistical tables F1 and F6 (F6 data: APRA and RBA; CC BY 4.0; Cash Rate used under the RBA's Cash Rate terms). The RBA does not endorse this site.