The Best Home Loan Rates Available in September 2026
by RatesBoard · 3 min read
Rates as at 13 Sept 2026
The best rate on the board this month is Up's variable loan at 5.95% comparison, open to borrowers up to 90% LVR. The same lender leads every category we can rank, and the widest spread on the board is in one-year fixed rates, where the best and worst products sit 2.55 points apart.
| Category | Best this month | Rate | Next best | Rate |
|---|---|---|---|---|
| Variable | Up Home Variable Rate Loan | 5.95% | Westpac Flexi First Option Home Loan | 6.00% |
| Fixed, 1 year | Up Home Fixed Term Loan | 5.99% | ING Fixed Rate Home Loan | 6.05% |
| Fixed, 2 years | Up Home Fixed Term Loan | 6.04% | Macquarie Fixed Rate | 6.08% |
| Fixed, 3 years | Up Home Fixed Term Loan | 6.06% | Macquarie Fixed Rate | 6.08% |
| Fixed, 5 years | Up Home Fixed Term Loan | 6.15% | Macquarie Fixed Rate | 6.17% |
| Offset | Up Home Variable Rate Loan | 5.95% | ING Mortgage Simplifier | 6.02% |
| No ongoing fees | Up Home Variable Rate Loan | 5.95% | Up Home Fixed Term Loan | 5.99% |
Every rate is a comparison rate, and every one is the cheapest tier that lender advertises (LVR limits differ, and Up does not publish one for its fixed terms). We also track four-year fixed rates, where nothing on the board qualifies this month.
The month's pattern was fixed rates up and variable rates down. Macquarie lifted all five fixed terms it lists on 8 September, by 0.15 to 0.30 points, and Great Southern Bank lifted its four fixed terms on 11 September, by 0.10 to 0.25. NAB went the other way on 24 August, cutting its Tailored Home Loan by 0.70 points, the biggest variable cut on the board this year.
Ten lenders changed something since mid-August, most of it showing up in the 31 August reading. CBA added 0.15 to its five-year fixed, ING lifted its three-year fixed by 0.80 and its five-year by 0.60, and Qudos Bank lifted all four of its fixed terms by 0.10. ME Bank trimmed both of its variable loans, by 0.09 and 0.05, Bank Australia cut its offset rate by 0.11, and Westpac cut Flexi First by 0.45.
One lender moved on both sides. Up repriced its whole suite on 31 August: variable up 0.50 points, fixed up between 0.35 and 0.75. It still tops the board, which is what 0.50 points on top of a 5.45% base buys you.
A note on those dates. The 31 August changes are recorded on the day our sync first saw the new rate, and for several lenders the previous reading was months earlier. The date is exact where the readings are days apart, as they are for Macquarie and Great Southern Bank.
The Reserve Bank has not touched the cash rate since 6 May, when it reached 4.35%. None of the moves above came from it.
The number worth your attention is the gap inside a single category rather than between lenders in the abstract. Variable rates on this board span 1.29 points, from Up's 5.95% comparison to ANZ's Standard Variable at 7.24%. One-year fixed spans 2.55 points. Nothing the Reserve Bank did this year explains a gap that size.
We don't receive commissions or affiliate payments from lenders, and this is general information, not personal advice.