Macquarie undercuts the Big Four banks with its latest 0.20% cut to fixed rate home loans
Macquarie has cut another 20 basis points off its fixed rate home loans, vastly undercutting what’s on offer at the Big Four banks.
With its two- and three-year fixed rates now starting at 5.29% p.a. for owner occupiers, Macquarie has the equal-lowest rates for these terms that are available to anyone.
This is the second time that Macquarie has dropped its fixed rates in the past month, signalling intense competition among home loan lenders seeking to lure in new customers.
Macquarie’s new fixed interest rates
| Fixed rate term | New interest rate (p.a.) | Comparison rate (p.a.) | Interest rate cut |
|---|---|---|---|
| 1 year | 5.39% | 5.91% | -0.20% |
| 2 years | 5.29% | 5.84% | -0.20% |
| 3 years | 5.29% | 5.78% | -0.20% |
| 4 years | 5.49% | 5.80% | -0.20% |
| 5 years | 5.49% | 5.77% | -0.20% |
| Source : Mozo database as at 24 April, 2025. Rates are for an owner occupier with <80% LVR, making principal and interest repayments over 25 years on a $500,000 home loan. | |||
Macquarie’s 20 basis point cut applies to all fixed terms, and is available to both owner occupiers and investors. Those with a loan-to-value ratio (LVR) from <70% up to 95% are set to benefit.
Macquarie emerges as a market leader for fixed rates
The major lender was already among our top picks when it comes to cheap home loans, but Macquarie’s latest move means it’s now a market leader for fixed rate home loans.
Here’s a look at the lowest two-year fixed rates from Macquarie and the Big Four in our database.
| Lowest two-year fixed rate | Interest rate (p.a.) | Monthly repayment |
|---|---|---|
| Macquarie | 5.29% | $3,008 |
| NAB | 5.44% | $3,053 |
| Westpac | 5.69% | $3,127 |
| ANZ | 5.74% | $3,143 |
| Commonwealth Bank | 5.99% | $3,218 |
| Source : Mozo database as at 24 April, 2025. Rates are for an owner occupier with <80% LVR, making principal and interest repayments over 25 years on a $500,000 home loan. | ||
If you’d like to see how your interest rate compares to others in the market, use our home loan comparison calculator .
Macquarie’s home loans aren’t your only option when it comes to competitive fixed rate terms. See below some of the latest offers available from Mozo partners or use the filters to compare all fixed rates in our database.