Best 2 Year Fixed Mortgage Rates – Compare Top Deals 2025

How to compare 2 year fixed rates effectively

Finding the best 2-year fixed mortgage in Australia means looking beyond the headline rate. A proper comparison focuses on total loan cost, flexibility and key features. Prioritise the comparison rate, which includes most fees and gives a clearer picture of what you’ll actually pay. Low headline rates can hide high fees or restrictive features.

Key factors to assess:

• Comparison rate vs headline rate: Always rely on the comparison rate for true cost.

• Break costs: Understand penalties for exiting early.

• Offset access: Some fixed loans allow partial offset accounts, valuable for reducing interest.

• Extra repayments: Check how much you can repay annually without penalty.

• End of term options: Know what happens when the fixed period ends and how easily you can switch or refix.

Because these details vary widely, a platform like HeyNest can connect you with an independent expert who compares all these features across multiple lenders.

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Current market trends for 2 year fixed rates

The best 2-year fixed mortgage rates move quickly, driven by RBA decisions, global conditions and lender funding costs. Two-year terms often sit between short and longer fixed options, appealing to borrowers wanting near-term certainty without locking in too long. Current trends include:

• Rate volatility: Rates shift quickly with cash rate forecasts.

• Balanced term length: A 2-year fix offers security without long commitment.

• Lender pricing: Competitive 2-year deals are often used to attract new customers.

• LVR impact: Lower LVRs generally unlock better rates.

• Special offers: Some lenders run short-term promotions, brokers often access even sharper, unadvertised options.

Through HeyNest, you gain access to brokers who track daily rate changes and know which lenders have the top offers right now.

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Is a 2 year fixed term right for your goals?

A 2-year fixed term suits borrowers wanting stability today while keeping options open sooner than with a 3 or 5 year fix. It’s ideal for those expecting life changes, income growth, or planning future refinancing. Benefits include:

• Budget certainty: Two years of predictable repayments.

• Short-term protection: Shields you from near-term rate hikes.

• Greater flexibility: Lets you reassess your loan structure sooner.

• Balanced risk: Works well if you value stability but accept that rates could fall during the term.

HeyNest simplifies this decision by connecting you with an independent broker who can assess your financial goals and determine whether a 2-year fixed rate is the right fit.

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Frequently asked questions

Can I pay off my 2-year fixed mortgage early?

Yes, but only up to a certain limit per year without incurring significant break costs, which can be thousands of dollars.

What happens when the 2-year fixed term ends?

The loan automatically reverts to the lender's standard variable rate unless you choose to re-fix or refinance before the term expires.

Is a 2-year fixed rate currently lower than a variable rate?

Not always. It depends on the lender's funding costs and market expectations, but the difference is often marginal, offering certainty for a small premium.