It's tempting to lock cheapest home loan in a mortgage at a low rate for three years. Some people mortgage calculator like the certainty, and you can save money if variable interest rates rise above your mortgage repayment calculator fixed rate. Don't forget that most fixed variable rate mortgages lack of the flexibility to make extra repayments, thus removing an option to pay less interest.But the banks home loan calculator don't offer three-year fixed loans so close to their variable mortgage rates if they think the cash rate will rise soon.