Home mortgages in Australia are a popular way for individuals to finance the purchase of property. The mortgage market is highly competitive, with major banks, smaller lenders, and non-bank institutions offering various loan products. Borrowers typically have the option of choosing between fixed-rate or variable-rate mortgages, or a combination of both. The Reserve Bank of Australia (RBA) plays a key role in influencing interest rates through its cash rate, which affects the cost of borrowing. Lenders also evaluate the borrower’s financial situation, credit history, and loan-to-value ratio (LVR) to determine eligibility and loan conditions.