Wednesday's rate hikes apply to both owner occupier and investment home loans fixed between one and five years.

This marks only the second fixed rate hike of the year for NAB, while ANZ pushed fixed-rates north twice in February alone. 

NAB's Choice Package principal and interest (P&I) and interest-only (IO) loans over five-years saw the greatest increase of 50 basis points. 

For an annual fee of $395, NAB's ‘Choice Package’ provides customers a discount off the ‘indicator’ rate for the life of the loan, while also discounting premiums on various insurance products, and margin loans. 

Noteworthy increases across NAB's fixed home loan portfolio include:

  • Choice Package Tailored Fixed - P&I 5 Years 150k+ 95%: 50 basis point increase to 4.19% p.a. (4.43% p.a. comparison rate*)
  • Choice Package Tailored Fixed - IO 5 Years 150k+ 95%: 30 basis point increase to 4.49% p.a. (4.51% p.a. comparison rate*)
  • Choice Package Investor Tailored Fixed - P&I 5 Years 150k+ 90%: 50 basis point increase to 4.34% p.a. (4.84% p.a. comparison rate*)
  • Choice Package Investor Tailored Fixed - IO 5 Years 150k+ 90%: 50 basis point increase to 4.44% p.a. (4.84% p.a. comparison rate*)
  • Tailored Fixed - P&I 3 Years 95%: 25 basis point increase to 3.69% p.a. (4.43% p.a. comparison rate*)
  • Tailored Fixed - P&I 5 Years 95%: 50 basis point increase to 4.29% p.a. (4.56% p.a. comparison rate*)

NAB owned digital-banks 86 400 and UBank both lifted fixed home loan rates last week by up to 35 basis points.

Recently, ABS data revealed the average loan size for owner-occupier dwellings now sits at a national level of $619,000, marking an increase of $17,000 or 2.8% from December 2021.

The owned occupied five-year Tailored Fixed home loan is 195 basis points (1.95%) higher than it was a year ago.

Using this average home loan size across a 30-year term, 195 basis points' difference results in $665 in extra interest paid per month.

On Tuesday NAB economists forecast an RBA cash rate of 0.75% by end-2022.


Buying a home or looking to refinance? The table below features home loans with some of the lowest interest rates on the market for owner occupiers.

Update resultsUpdate
LenderHome LoanInterest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees LVR Lump Sum Repayment Additional Repayments Split Loan Option TagsFeaturesLinkCompare
6.04% p.a.
6.06% p.a.
$2,408
Principal & Interest
Variable
$0
$530
70%
Featured Online ExclusiveUp To $4K Cashback
  • Immediate cashback upon settlement
  • $2,000 for loans up to $700,000
  • $4,000 for loans over $700,000
5.99% p.a.
5.90% p.a.
$2,396
Principal & Interest
Variable
$0
$0
80%
Featured Apply In Minutes
  • No application or ongoing fees. Annual rate discount
  • Unlimited redraws & additional repayments. LVR <80%
  • A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank.
6.14% p.a.
6.16% p.a.
$2,434
Principal & Interest
Variable
$0
$250
60%
Featured Unlimited Redraws
  • No annual fees - None!
  • Get fast pre-approval
  • Unlimited additional repayments free of charge
  • Redraw freely - Access your additional payments when you need them
  • Home loan specialists available today
Important Information and Comparison Rate Warning

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of . View disclaimer.

 





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