NAB increases fixed home loan rates

The decision from NAB comes after Australia’s largest bank lifted fixed home loan rates by 140 basis points on Thursday.

The increase from NAB means some fixed rates across their portfolio now begin with a 6, with the figure of 7% looming large in wake of future rate increases.

AMP Chief Economist Shane Oliver said rising fixed rates along with a host of other factors are having a cooling effect on house prices.

“We expect national average property prices to have a top to bottom fall of 15 to 20% over the next 18 months reflecting the combination of poor affordability, rising fixed mortgage rates and further rate hikes from the RBA pushing up variable rates…” Mr Oliver said.

Key changes to NAB’s fixed rate home loan portfolio for new owner occupiers with 95% loan-to-value ratio include:

• Tailored Fixed P&I 1 Year: 110 basis point increase to 4.79% p.a. (5.39% p.a. comparison rate*)
• Tailored Fixed P&I 3 Years: 80 basis point increase to 5.89% p.a. (5.57% p.a. comparison rate*)
• Tailored Fixed IO 1 Year: 30 basis point increase to 5.29% p.a. (5.58% p.a. comparison rate*)
• Tailored Fixed IO 3 Years: 75 basis point increase to 6.19% p.a. (5.72% p.a. comparison rate*)
• Choice Package Tailored Fixed - P&I 2 Years 150k+: 100 basis point increase to 5.59% p.a. (5.23% p.a. comparison rate*)
• Choice Package Tailored Fixed - P&I 4 Years 150k+: 80 basis point increase to 6.19% p.a. (5.60% p.a. comparison rate*)

For investors with 90% loan-to-value ratio, key changes include:

• Investment Tailored Fixed P&I 1 Year: 90 basis point increase to 5.09% p.a. (5.92% p.a. comparison rate*)
• Investment Tailored Fixed P&I 3 Years: 80 basis point increase to 6.09% p.a. (6.06% p.a. comparison rate*)
• Investment Tailored Fixed IO 1 Year: 90 basis point increase to 5.19% p.a. (6.02% p.a. comparison rate*)
• Investment Tailored Fixed IO 3 Years: 70 basis point increase to 6.09% p.a. (6.09% p.a. comparison rate*)
• Choice Package Investment Tailored Fixed - P&I 2 Years 150k+: 65 basis point increase to 5.49% p.a. (5.69% p.a. comparison rate*)
• Choice Package Investment Tailored Fixed - P&I 4 Years 150k+: 70 basis point increase to 6.19% p.a. (5.98% p.a. comparison rate*)

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Lender	Home Loan	Interest Rate	Comparison Rate*	Monthly Repayment	Repayment type	Rate Type	Offset	Redraw	Ongoing Fees	Upfront Fees	Max LVR	Lump Sum Repayment	Extra Repayments	Split Loan Option	Tags	Features	Link	Compare	Promoted Product	Disclosure
loans.com.au	loans.com.au Fixed Home Loan P&I <90% (3 years)	5.34% p.a.	5.67% p.a.	$2,789	Principal & Interest	Fixed			$0	$530	90%				Owner Occupier Fixed 3 Years Principal & Interest 10% Min Deposit Extra Repayments More details	Available for purchase or refinance, min 10% deposit needed to qualify. No application, ongoing monthly or annual fees. Flexibility to split your loan with both fixed and variable rates	More details	Compare	Promoted	Disclosure
ING	ING Fixed Rate Home Loan (OO, P&I, $150k+, LVR >=80% - <90%) (3 years)	5.39% p.a.	5.74% p.a.	$2,805	Principal & Interest	Fixed			$0	$350	90%				Owner Occupier Fixed 3 Years Principal & Interest 10% Min Deposit Extra Repayments More details		More details	Compare
G&C Mutual Bank	G&C Mutual Bank Fixed Rate Mortgage - Owner Occupied (P&I) (3 years)	5.45% p.a.	5.53% p.a.	$2,823	Principal & Interest	Fixed			$0	$500	95%				Owner Occupier Fixed 3 Years Principal & Interest 5% Min Deposit Redraw Extra Repayments More details		More details	Compare
Unity Bank	Unity Bank Fixed Rate Mortgage (Owner Occupied P&I 3year) (3 years)	5.45% p.a.	5.53% p.a.	$2,823	Principal & Interest	Fixed			$0	$500	95%				Owner Occupier Fixed 3 Years Principal & Interest 5% Min Deposit Redraw More details		More details	Compare
Commonwealth Bank	Commonwealth Bank Standard Fixed Rate (with Wealth Package) P&I (3 years)	5.49% p.a.	7.34% p.a.	$2,836	Principal & Interest	Fixed			$0	$0	95%				Owner Occupier Fixed 3 Years Principal & Interest 5% Min Deposit Extra Repayments More details		More details	Compare
Great Southern Bank	Great Southern Bank Fixed Rate - Owner Occupier Principal & Interest (3 years)	5.54% p.a.	6.99% p.a.	$2,852	Principal & Interest	Fixed			$0	$835	95%				Owner Occupier Fixed 3 Years Principal & Interest 5% Min Deposit Redraw Extra Repayments More details		More details	Compare
Regional Australia Bank	Regional Australia Bank Home Loan Fixed OO,PI LVR 80-90% (3 years)	5.57% p.a.	5.90% p.a.	$2,861	Principal & Interest	Fixed			$null	$null	90%				Owner Occupier Fixed 3 Years Principal & Interest 10% Min Deposit Offset Redraw More details		More details	Compare
Queensland Country Bank	Queensland Country Bank Ultimate Package Fixed Rate Home Loan (Principal & Interest) (LVR > 80%) (3 years)	5.59% p.a.	7.43% p.a.	$2,867	Principal & Interest	Fixed			$395	$700	95%				Owner Occupier Fixed 3 Years Principal & Interest 5% Min Deposit Offset Extra Repayments More details		More details	Compare
AMP	AMP Professional Package Fixed Rate Loan (Owner Occupied, Principal and Interest, LVR<=90%) (3 years)	5.59% p.a.	6.57% p.a.	$2,867	Principal & Interest	Fixed			$0	$295	90%				Owner Occupier Fixed 3 Years Principal & Interest 10% Min Deposit Extra Repayments More details		More details	Compare
Beyond Bank	Beyond Bank Fixed Total Home Loan Package <90% (3 years)	5.64% p.a.	6.35% p.a.	$2,883	Principal & Interest	Fixed			$395	$200	90%				Owner Occupier Fixed 3 Years Principal & Interest 10% Min Deposit Offset Redraw Extra Repayments More details		More details	Compare
HSBC	HSBC Packaged Fixed Rate Loan - Owner Occupied (LVR >80%) (3 years)	5.69% p.a.	6.31% p.a.	$2,899	Principal & Interest	Fixed			$390	$0	90%				Owner Occupier Fixed 3 Years Principal & Interest 10% Min Deposit Extra Repayments More details		More details	Compare
Virgin Money	Virgin Money Loaded Home Loan - LVR 80% to 90% (3 years)	5.79% p.a.	6.46% p.a.	$2,931	Principal & Interest	Fixed			$0	$350	90%				Owner Occupier Fixed 3 Years Principal & Interest 10% Min Deposit More details		More details	Compare
ME	ME Flexible Home Loan with Member Package - Owner Occupied - LVR > 80% <= 90% - Loan Amount > $150k < $400k (3 years)	5.79% p.a.	6.50% p.a.	$2,931	Principal & Interest	Fixed			$395	$250	90%				Owner Occupier Fixed 3 Years Principal & Interest 10% Min Deposit Extra Repayments More details		More details	Compare
BankSA	BankSA Fixed Rate Home Loan with Advantage Package (for Owner Occupier P&I LVR below 70%) (3 years)	5.89% p.a.	6.27% p.a.	$2,962	Principal & Interest	Fixed			$395	$100	95%				Owner Occupier Fixed 3 Years Principal & Interest 5% Min Deposit Extra Repayments More details		More details	Compare
Well Money	Well Money Well Equity Plus (3 years)	5.89% p.a.	6.12% p.a.	$2,962	Principal & Interest	Fixed			$0	$635	90%				Owner Occupier Fixed 3 Years Principal & Interest 10% Min Deposit Offset Redraw More details		More details	Compare
Bank of Melbourne	Bank of Melbourne Fixed Rate Home Loan with Advantage Package (for Owner Occupier P&I LVR 70-80%) (3 years)	5.99% p.a.	6.37% p.a.	$2,995	Principal & Interest	Fixed			$395	$100	95%				Owner Occupier Fixed 3 Years Principal & Interest 5% Min Deposit Extra Repayments More details		More details	Compare
St.George	St.George Fixed Rate Home Loan with Advantage Package (for Owner Occupier P&I LVR 70-80%) (3 years)	5.99% p.a.	6.37% p.a.	$2,995	Principal & Interest	Fixed			$395	$100	95%				Owner Occupier Fixed 3 Years Principal & Interest 5% Min Deposit Extra Repayments More details		More details	Compare
MOVE Bank	MOVE Bank Offset Home Loan Fixed (Principal & Interest) LVR <95% (3 years)	6.04% p.a.	5.87% p.a.	$3,011	Principal & Interest	Fixed			$0	$600	95%				Owner Occupier Fixed 3 Years Principal & Interest 5% Min Deposit Offset Redraw More details		More details	Compare
ANZ	ANZ Fixed Rate Home Loan (Principal and Interest) (LVR > 80%) (3 years)	6.14% p.a.	6.71% p.a.	$3,043	Principal & Interest	Fixed			$null	$160	95%				Owner Occupier Fixed 3 Years Principal & Interest 5% Min Deposit Offset More details		More details	Compare
Bank First	Bank First Premier Package Home Loan - Owner Occupied LVR above 90% (3 years)	6.29% p.a.	7.18% p.a.	$3,092	Principal & Interest	Fixed			$390	$400	95%				Owner Occupier Fixed 3 Years Principal & Interest 5% Min Deposit Offset Redraw Extra Repayments More details		More details	Compare
Westpac	Westpac Fixed Options Home Loan with Premier Advantage Package (Principal & Interest LVR above 80%) (3 years)	6.29% p.a.	6.66% p.a.	$3,092	Principal & Interest	Fixed			$395	$150	95%				Owner Occupier Fixed 3 Years Principal & Interest 5% Min Deposit Redraw Extra Repayments More details		More details	Compare
Virgin Money	Virgin Money Reward Me Home Loan (Owner Occupier) - Special for New Borrowings of $300,000 + and up to 80% LVR (3 years)	6.54% p.a.	6.54% p.a.	$3,174	Principal & Interest	Fixed			$10	$450	90%				Owner Occupier Fixed 3 Years Principal & Interest 10% Min Deposit Offset More details		More details	Compare
Aussie	Aussie Select Basic Fixed above 90% LVR (Owner Occupied) (3 years)	6.79% p.a.	6.37% p.a.	$3,256	Principal & Interest	Fixed			$null	$null	95%				Owner Occupier Fixed 3 Years Principal & Interest 5% Min Deposit More details		More details	Compare

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Variable Home Loan P&I <90%

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• Available for purchase or refinance, min 10% deposit needed to qualify.
• No application, ongoing monthly or annual fees.
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Monthly repayments: $2,281

5.54% Advertised Rate (p.a.)

5.58% Comparison Rate*

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