How much a homeowner saved by fixing their rate

Estimated interest paid from July 2021 to July 2023 on a $500,000 loan, two-year fixed vs basic variable

Assumes Westpac RBA forecast of a 3.85% cash rate by March 2023

Source: RateCity.com.au. Based on an owner-occupier paying principal and interest with 25 years remaining in July 2021