A fixed rate home loan is a type of home loan with an interest rate that is fixed for a certain period of time, usually between one and five years. This means that your mortgage repayments will remain the same for the fixed period, regardless of any changes to interest rates in the market. After the fixed period ends, the interest rate will revert to the lender’s standard variable rate. Fixed rate home loans can offer certainty and stability as you know exactly how much your mortgage repayments will be for the fixed period. This can make budgeting easier and give you peace of mind knowing that your repayments won’t change if interest rates rise.

In most cases a fixed period hom