NAB posted its second set of rate hikes this month, raising the fixed rates for both investors and owner-occupiers.
This is in anticipation of the likely move by the Reserve Bank of Australia to move the cash rate by June 2022.
NAB increased its fixed rates by as much as 80 bps, with the changes being applied to the Choice Package and Tailored Home Loan products.
Here are some of the biggest changes in NAB’s fixed-rate loan products:
|
NAB Loan Product |
Change |
New Rate |
|
Investment Tailored Fixed P&I 3 yrs |
+ 70 bps |
4.89% p.a. |
|
Investment Tailored Fixed P&I 4 yrs |
+75 bps |
5.19% p.a. (5.28% p.a. comparison rate) |
|
Tailored Fixed P&I 3 yrs |
+50 bps |
4.59% p.a. (4.67% p.a. comparison rate) |
|
Tailored Fixed P&I 4 yrs |
+60 bps |
4.89% p.a. (4.78% p.a. comparison rate) |
|
Choice Package Inv Tailored Fixed - IO in arrears 2 yrs 150k+ |
+80 bps |
4.49% p.a. (4.94% p.a. comparison rate) |
Meanwhile, here are some of the smaller lenders who made significant changes to their fixed-rate offerings over the past week:
Gateway Bank
|
Gateway Bank Loan Product |
Change |
New Rate |
|
Premium Residential Fixed 3 yrs 150k+ |
+ 80 bps |
4.49% p.a. |
|
Premium Residential Fixed 2 yrs 150k+ |
+75 bps |
4.04% p.a. (3.71% p.a. comparison rate) |
|
Residential Fixed 3 yrs |
+95 bps |
4.74% p.a. (4.57% p.a. comparison rate) |
|
Investment Fixed 3 yrs |
+90 bps |
4.84% p.a. (5.15% p.a. comparison rate) |
ME Bank
|
ME Bank Loan Product |
Change |
New Rate |
|
Flexible Fixed P&I 3 yrs |
+ 50 bps |
4.24% p.a. |
|
Flexible Fixed P&I 5 yrs |
+60 bps |
4.89% p.a. (4.57% p.a. comparison rate) |
|
Member Package Flexible Fixed P&I 3 yrs |
+50 bps |
4.09% p.a. (3.42% p.a. comparison rate) |
|
Member Package Flexible Fixed P&I 5 yrs |
+60 bps |
4.74% p.a. (3.91% p.a. comparison rate) |
BankVic
|
BankVic Loan Product |
Change |
New Rate |
|
Fixed 3 yrs |
+90 bps |
3.79% p.a. |
|
Fixed 5 yrs |
+104 bps |
4.39% p.a. (4.16% p.a. comparison rate) |
|
Investor Fixed Rate P&I 3 yrs |
+97 bps |
3.99% p.a. (4.51% p.a. comparison rate) |
|
Investor Fixed Rate IO 5 yrs |
+107 bps |
4.94% p.a. (4.81% p.a. comparison rate) |
G&C Mutual Bank
|
G&C Mutual Bank Loan Product |
Change |
New Rate |
|
Residential Fixed IO 2 yrs |
+135 bps |
4.34% p.a. |
|
Residential Fixed IO 3 yrs |
+115 bps |
4.74% p.a. (4.78% p.a. comparison rate) |
|
Residential Fixed P&I 2 yrs |
+100 bps |
3.69% p.a. (3.75% p.a. comparison rate) |
|
Investment Fixed IO 2 yrs |
+105 bps |
4.34% p.a. (4.81% p.a. comparison rate) |
Collections: Mortgage News Interest Rates
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