Why do mortgage rates today in the U.S. matter for Australia?

U.S. long-term rates influence global bond and swap markets. When they fall, Australian banks can see lower funding costs, which may improve fixed-rate offers. The effect is not instant or guaranteed, but it often guides pricing, lender confidence, and the appetite to discount for strong borrowers.

How should I compare refinance rates today in Australia?

Start with your current rate and fees. Compare like-for-like products, including revert rates, offset features, and package costs. Ask your lender for a repricing. Then request written quotes from at least three competitors. Check break fees if fixed, and confirm discharge timelines before you switch.

What is the mortgage lock-in effect?

Many owners kept ultra-low pandemic loans and chose not to sell, reducing listings. As rates stabilise, that lock-in eases and more sellers may list. In the U.S., a 1% drop could add about 5.5 million buyers, which can lift sales and refinancing, and improve overall market liquidity.

What shapes Australia’s housing inventory outlook in 2026?

Key drivers include new listings, construction completions, building approvals, rental vacancies, and migration. If funding conditions improve and confidence lifts, developers may restart projects and owners may list. Watch auction volumes and days-on-market to see whether supply is building or tightening in your target suburbs.

Global Market Insights

Mortgage Rates Today, February 23: 30-Year Near 5.86% as Lock-In Eases

ByHuzaifa Zahoor February 23, 2026February 23, 2026

Mortgage rates today are near multi-year lows in the U.S., with the 30-year around 5.86% to 6.01%. For Australian borrowers and investors, that matters. Lower U.S. yields can feed into global funding costs and sentiment. As the mortgage lock-in effect starts to fade, more American homes may hit the market. A 1% rate drop could add about 5.5 million buyers, supporting sales and refinances. We outline what this setup could mean for local lending, repayments, and the housing inventory outlook.