Get talking points and competitor rates to negotiate with your bank
Updated October 2026Built and checked by MaverickHow it's calculatedReport an error
Market median
6.38%
down from 6.8%
Saving at lowest rate
$4,350
$21,750 over 5yrs
Gap to median / lowest
0.42 / 0.87%
percentage points a year
Lowest published
5.93%
median 6.38%
Lenders' lowest published variable rates for this loan type at 80% LVR, from the Consumer Data Right.
On the current balance, if your rate matched the median or the lowest published rate.
Asking your lender for a lower rate costs nothing, and the ACCC's 2020 home loan price inquiry found existing borrowers often paid more than new ones. This helper sets your rate against the lowest and median published rates for your loan type, works out what the gap costs you a year, and gives you a script that quotes those rates.
As of 7 November 2026, the lowest variable home loan rate is 5.93%, from SCCU's BROKER HOME LOAN, while the typical best across 104 institutions is 6.38%. The lowest 3-year fixed home loan rate is 6.24%, from Credit Union SA's 3-Year Fixed 40 Year Home Loan Package, while the typical best across 80 institutions is 6.69%. The RBA cash rate is 4.85%. Those are for an owner-occupier paying principal and interest at an 80% LVR.
David has been with CBA for 8 years at 6.8% on a $520,000 loan.
The helper sets 6.8% against the median and lowest published rates for his loan type and shows the interest each gap costs a year. Its script quotes those rates and the lender publishing the lowest; what CBA offers is up to CBA.
Lisa is 18 months into her Westpac loan at 6.5%, $400,000 balance.
The same comparison applies whatever the tenure: the helper shows how far 6.5% sits above the published rates and what that costs a year on $400,000.