Fixed vs Variable › How long should I fix my rate for?

How long should I fix my rate for?

It depends on how long you want certainty and your plans for the property. Shorter fixed terms give less exposure to break costs and more flexibility; longer terms give more certainty but lock you in for longer.

Written by Ross McFarlane, Licensed Mortgage Broker (Credit Representative 526725). About the author

Why this matters

There is no ideal term, only the one that fits your plans. If you might sell or refinance soon, a long fix raises your break cost risk. If you want stable repayments for years and intend to stay put, a longer fix can suit. Matching the fixed term to your realistic horizon is more important than guessing rate moves.

The key points

Match the term to how long you want certainty.
Shorter terms mean more flexibility and less break risk.
Longer terms lock in certainty but also lock you in.
Fit the term to your realistic plans.

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Last reviewed: June 2026

General information only. This page provides general information about home loans and is not financial or credit advice, a quote, or a guarantee, and your personal circumstances have not been considered. Lending policies, interest rates, fees and eligibility vary by lender and change over time. Always confirm your own situation with a licensed mortgage broker or lender before acting. Ross McFarlane (Credit Representative 526725) is an authorised Credit Representative of Australian Associated Advisers Pty Ltd t/a Keylend, Australian Credit Licence 392169.