The standard variable rate for mortgages was around half a percent higher at 6.8%.
Fixed rates are normally higher than variable rates as lenders charge a premium for locking in the certainty of the repayment amounts.
However, sometimes the yield curve can become inverted - in other words, the markets think that interest rates will come down (and they have!), so the fixed rates can be lower than the variable.
Sydney's auction clearance rate continued to climb at the weekend to 62%, so no signs of the much-touted collapse in property values just yet.