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Home loan interest rate history
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Home Loan Interest Rate History
The average bank variable interest home loan
interest rate rate over the past 59 years in
Australia is 8.87 percent. (source Reserve
Bank of Australia standard variable interest
rate home loans, Jan 1959 to Feb 2008)
The same standard variable home loan interest rate was above 9 percent from July 1974 through to August 1993 when the rate dropped to 8.75 percent for 1 year then did not return to below 9 percent again until November 1996. Current 2008 interest rates don't seem that bad after all when view in this light! Finance Broker Australia has a graph showing this home loan interest rate history trend since 1959 The graph below is up to 2006
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