Online mortgage bank Heartland pushes all its fixed home loan rates down to the lowest level of any bank

Heartland Bank has now moved to take the market-leading positions for fixed home-loan rates for all terms from one to three years.

These latest cuts position it 20 to 30 basis points lower than the main banks. And at these levels they are also lower than reader-reported main-bank app rate offers.

Almost all banks will have some flexibility in their rate offers. So the carded rates are just the start. Negotiate. How flexible they may be will depend on the strength of your financials. But this probably doesn't apply to Heartland Bank who solely have an online offer.

One useful way to make sense of the changed home loan rates is to use our full-function mortgage calculator which is below.

And if you already have a fixed term mortgage that is not up for renewal at this time, our break fee calculator may help you assess your options. Break fees will be minimal in a rising market. But they become important in a falling market, like now.

Here is the updated snapshot of the lowest advertised fixed-term mortgage rates on offer from the key retail banks at the moment.

Fixed, below 80% LVR	6 mths	1 yr	18 mth	2 yrs	3 yrs	4 yrs	5 yrs
as at December 4. 2024	%	%	%	%	%	%	%
ANZ	6.24	5.79	5.59	5.59	5.59	6.19	6.19
current reader-reported rates		5.59	5.39	5.39
	6.19	5.79	5.59	5.49	5.59	5.79	5.79
current reader-reported rates	5.99	5.79	5.59	5.49	5.59	5.69	5.69
	5.99	5.79	5.59	5.59	5.69	5.79	5.89
current reader-reported rates
	6.49	5.79		5.69	5.69	5.69	5.69
current reader-reported rates
	6.19	5.79	5.69	5.49	5.59	5.59	5.59
current reader-reported rates
Bank of China	6.65	5.99	5.79	5.69	5.69	5.49	5.49
China Construction Bank	6.50	5.99	5.79	5.69	5.69	6.40	6.40
Co-operative Bank	6.19	5.79	5.69	5.59	5.69	5.69	5.69
Heartland Bank		5.49 -0.16	5.39 -0.20	5.39 -0.16	5.45 -0.10
ICBC	6.39	5.99	5.79	5.65	5.59	5.49	5.49
	6.60	6.15	5.79	5.69	5.69	5.69	5.69
	6.45	5.69	5.89	5.69	5.69	5.69	5.69