Australia mortgage rates hold at 6.2% in August 2026

Australian owner-occupiers with an existing home loan paid an average interest rate of 6.2% in August 2026, according to the Reserve Bank of Australia. The measure covers loans held across all lending institutions. It tracks the rate on the existing stock of owner-occupier mortgages rather than only on loans written during the month, so it reflects the borrowing cost carried by households that already have a home loan.

The rate did not change from the previous month. The Reserve Bank of Australia reported the same 6.2% for July 2026, and Housing Market Group's calculation from those figures puts the change between July 2026 and August 2026 at 0 percentage points. The central bank's data also show 6.2% in June 2026 and 6.2% in May 2026. The August 2026 reading therefore continues a flat stretch in the national average.

That steady period followed an increase in the spring. The Reserve Bank of Australia recorded an average outstanding owner-occupier rate of 6.0% in April 2026. By May 2026 the figure had reached 6.2%, and it has not moved in either direction in the monthly data published since.

The annual comparison shows a larger shift than the monthly figures suggest. In August 2025 the average rate on outstanding owner-occupier loans was 5.5%, according to the Reserve Bank of Australia. Housing Market Group's calculation from the central bank's figures shows that the August 2026 rate was 0.7 percentage points higher than a year earlier. On average, owner-occupiers with existing mortgages were paying a higher rate in August 2026 than in August 2025, even though the series has held level since May 2026.

The figures are national averages across all institutions. They show how the overall cost of existing owner-occupier mortgage debt has moved over time, but they do not show how rates vary between individual lenders or between regions of Australia. In summary, the Reserve Bank of Australia data show the average rate on outstanding owner-occupier mortgages rising over the year to August 2026 and staying at 6.2% in each month from May 2026 to August 2026.