The Best Home Loan Rates Available in November 2026
by RatesBoard · 3 min read
Rates as at 4 Nov 2026 · Live rates as at 13 Nov 2026 →
The lowest variable comparison rate on our board this month is Greater Bank's Great Rate Home Loan, at 6.10% comparison (6.09% advertised). It has held that spot since our October edition, and almost nothing else moved either.
Thirty of our 31 lenders passed on the Reserve Bank's 0.25 point rise from 29 September, the last of them recorded on 16 October. Since our October edition, one lender has moved a variable rate. IMB Bank added another 0.05 points to its Budget and Essentials loans on 23 October, which leaves it 0.30 points above where it sat before the decision. No advertised fixed rate on the board moved at all.
The Board raised the cash rate target by 0.25 points to 4.85% on 3 November, effective 4 November (statement, and we covered the decision the same day). As at 4 November, none of the 31 lenders we track has changed a variable rate in its published data since that decision, our tracker shows. Lenders can announce a change before it takes effect, and the tracker records it once it appears in their published data.
| Category | Best this month | Advertised (comparison) | Next best | Advertised (comparison) |
|---|---|---|---|---|
| Variable | Greater Bank Great Rate Home Loan | 6.09% (6.10%) | Bank of China Discount Home Loan | 6.18% (6.38%) |
| Fixed, 1 year | Teachers Mutual Bank Your Way fixed rate | 6.39% (6.51%) | Greater Bank Great Rate Home Loan | 6.44% (7.94%) |
| Fixed, 2 years | Unity Bank Fixed Rate Home Loan | 6.35% (6.44%) | Greater Bank Great Rate Home Loan | 6.44% (7.77%) |
| Fixed, 3 years | Greater Bank Great Rate Home Loan | 6.39% (7.61%) | IMB Bank 3-year Fixed Rate Home Loan | 6.49% (6.57%) |
| Fixed, 4 years | People First Bank Fixed Rate Home Loan | 6.54% (6.42%) | Greater Bank Great Rate Home Loan | 6.54% (7.53%) |
| Fixed, 5 years | People First Bank Fixed Rate Home Loan | 6.54% (6.43%) | Greater Bank Great Rate Home Loan | 6.54% (7.41%) |
| Offset | Up Up Home Variable Rate Loan | 6.20% (6.20%) | ING Mortgage Simplifier | 6.29% (6.32%) |
| No ongoing fees | Up Up Home Variable Rate Loan | 6.20% (6.20%) | Westpac Flexi First Option Home Loan | 6.24% (6.25%) |
Like the board, the table ranks advertised rate first, comparison rate to break ties. LVR limits differ by lender, and we have them for 56 of our 61 variable rows.
If a fix is on your mind, the table carries half an answer. Every fixed term starts above the best variable rate: 0.26 points more at two years, 0.30 at one and three, 0.45 at four and five. That gap is what certainty costs you today. It usually costs you the offset account as well, since only three of the 134 fixed products on our board come with one.
ME Bank held its advertised fixed rates where they were, but the comparison rates it publishes for them rose 0.36 to 0.45 points on 23 October. The one-year went from 6.32% to 6.77%, the five-year from 6.59% to 7.01%. A comparison rate prices $150,000 over 25 years and folds in the rate a fixed loan reverts to, as InfoChoice explains, so it can sit under the advertised rate. We can't see the revert rate ME Bank reports, so we can't say which part of that calculation moved.
The bigger spread is between lenders. Greater Bank's 6.10% comparison and the 8.71% on Bank of China's Standard Variable, an undiscounted rate, sit 2.61 points apart. On a hypothetical $600,000 loan over 30 years, principal and interest, that is about $1,067 a month.
We don't receive commissions or affiliate payments from lenders, and this is general information, not personal advice.