The new lowest owner occupier rate at NAB is now 5.19% p.a. (6.16% p.a. comparison rate*) for two years fixed, LVR up to 80%.

For investors the two year fixed product also has the lowest rate, now 5.34% p.a. (6.43% p.a.. comparison rate* for LVR up to 70%, 6.59% p.a. comparison rate* for LVR 70-80%).

NAB now offers fixed rates well below Commonwealth Bank and Westpac while the lowest ANZ rate is also 5.19% p.a.. (6.44% p.a.. comparison rate*) for two years fixed.

Several other lenders also cut fixed rates this week, Bendigo Bank the biggest name.

Most economists including the NAB economics team are predicting the RBA will cut by another 25 basis points at next week's meeting after inflation continued to moderate in the June quarter while unemployment increased to 4.3%.

NAB Head of Market Economics Tapas Strickland said the Q2 Consumer Price Index (CPI) "locked in" an August rate cut.

"The RBA was waiting [in July] for Q2 CPI data to see whether it still supported the Board's expectation of inflation declining slowly towards 2.5%," Mr Strickland explained.

"In our view this gradual disinflation narrative remains on track with [inflation figures]."

As of 7 August, market expectations put a 51% chance of a double sized 50 bps cut in August, which would take the cash rate all the way down to 3.35%, but Mr Strickland believes the RBA will still be "cautious and gradual".

"Elevated cost pressures in the NAB Business Survey suggest [Q2 CPI] should not change the RBA's cautious and gradual approach," he said.

New NAB home loan rates

These are NAB's new rates for owner occupiers:

Product Rate Change
1-year fixed (LVR ≤60%) Down 25 bps to 5.29% p.a. (6.27% p.a. comparison rate*).
2-year fixed (LVR ≤60%) Down 25 bps to 5.19% p.a. (6.16% p.a. comparison rate*).
3-year fixed (LVR ≤60%) Down 10 bps to 5.29% p.a. (6.09% p.a. comparison rate*).
4-year fixed (LVR ≤60%) Down 10 bps to 5.69% p.a. (6.16% p.a. comparison rate*).
5-year fixed (LVR ≤60%) Down 10 bps to 5.69% p.a. (6.12% p.a. comparison rate*).
1-year fixed (LVR 60-70%) Down 25 bps to 5.29% p.a. (6.27% p.a. comparison rate*).
2-year fixed (LVR 60-70%) Down 25 bps to 5.19% p.a. (6.16% p.a. comparison rate*).
3-year fixed (LVR 60-70%) Down 10 bps to 5.29% p.a. (6.09% p.a. comparison rate*).
4-year fixed (LVR 60-70%) Down 10 bps to 5.69% p.a. (6.16% p.a. comparison rate*).
5-year fixed (LVR 60-70%) Down 10 bps to 5.69% p.a. (6.12% p.a. comparison rate*).
1-year fixed (LVR 70-80%) Down 25 bps to 5.29% p.a. (6.45% p.a. comparison rate*).
2-year fixed (LVR 70-80%) Down 25 bps to 5.19% p.a. (6.32% p.a. comparison rate*).
3-year fixed (LVR 70-80%) Down 10 bps to 5.29% p.a. (6.24% p.a. comparison rate*).
4-year fixed (LVR 70-80%) Down 10 bps to 5.69% p.a. (6.28% p.a. comparison rate*).
5-year fixed (LVR 70-80%) Down 10 bps to 5.69% p.a. (6.23% p.a. comparison rate*).
1-year fixed (LVR >80%) Down 25 bps to 5.39% p.a. (6.46% p.a. comparison rate*).
2-year fixed (LVR >80%) Down 25 bps to 5.29% p.a. (6.34% p.a. comparison rate*).
3-year fixed (LVR >80%) Down 10 bps to 5.39% p.a. (6.26% p.a. comparison rate*).
4-year fixed (LVR >80%) Down 10 bps to 5.79% p.a. (6.32% p.a. comparison rate*).
5-year fixed (LVR >80%) Down 10 bps to 5.79% p.a. (6.27% p.a. comparison rate*).

And for investors:

Product Rate Change
1-year fixed (LVR ≤60%) Down 25 bps to 5.44% p.a. (6.56% p.a. comparison rate*).
2-year fixed (LVR ≤60%) Down 25 bps to 5.34% p.a. (6.43% p.a. comparison rate*).
3-year fixed (LVR ≤60%) Down 10 bps to 5.49% p.a. (6.36% p.a. comparison rate*).
4-year fixed (LVR ≤60%) Down 10 bps to 5.89% p.a. (6.42% p.a. comparison rate*).
5-year fixed (LVR ≤60%) Down 10 bps to 5.89% p.a. (6.37% p.a. comparison rate*).
1-year fixed (LVR 60-70%) Down 25 bps to 5.44% p.a. (6.56% p.a. comparison rate*).
2-year fixed (LVR 60-70%) Down 25 bps to 5.34% p.a. (6.43% p.a. comparison rate*).
3-year fixed (LVR 60-70%) Down 10 bps to 5.49% p.a. (6.36% p.a. comparison rate*).
4-year fixed (LVR 60-70%) Down 10 bps to 5.89% p.a. (6.42% p.a. comparison rate*).
5-year fixed (LVR 60-70%) Down 10 bps to 5.89% p.a. (6.37% p.a. comparison rate*).
1-year fixed (LVR 70-80%) Down 25 bps to 5.44% p.a. (6.73% p.a. comparison rate*).
2-year fixed (LVR 70-80%) Down 25 bps to 5.34% p.a. (6.59% p.a. comparison rate*).
3-year fixed (LVR 70-80%) Down 10 bps to 5.49% p.a. (6.50% p.a. comparison rate*).
4-year fixed (LVR 70-80%) Down 10 bps to 5.89% p.a. (6.54% p.a. comparison rate*).
5-year fixed (LVR 70-80%) Down 10 bps to 5.89% p.a. (6.48% p.a. comparison rate*).
1-year fixed (LVR >80%) Down 25 bps to 5.54% p.a. (6.74% p.a. comparison rate*).
2-year fixed (LVR >80%) Down 25 bps to 5.44% p.a. (6.61% p.a. comparison rate*).
3-year fixed (LVR >80%) Down 10 bps to 5.59% p.a. (6.53% p.a. comparison rate*).
4-year fixed (LVR >80%) Down 10 bps to 5.99% p.a. (6.58% p.a. comparison rate*).

Bendigo cuts fixed rates for investors

The other big bank to move this week was Bendigo, which cut one and two year fixed rates on its Investment Complete loans.

One year fixed rates for P&I repayments are now 5.39% p.a. (6.20% p.a. comparison rate*) after a 45 bps cut, while two year fixed drops 30 bps to 5.29% p.a. (6.12% p.a. comparison rate*)

Other movers

  • Qudos Bank cut rates by up to 20 bps, including some small downward revisions to select variable rates
  • Bank Australia also cut fixed rates by up to 20 bps

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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
Filters
LenderHome LoanInterest 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 TagsFeaturesLinkComparePromoted ProductDisclosure
5.29% p.a.
5.33% p.a.
$2,773
Principal & Interest
Variable
$0
$530
90%
  • Owner Occupier
  • Variable
  • Principal & Interest
  • 10% Min Deposit
  • Redraw
  • Extra Repayments
  • More details
  • Available for purchase or refinance, min 10% deposit needed to qualify.
  • No application, ongoing monthly or annual fees.
  • Quick and easy online application process.
Disclosure
5.19% p.a.
5.10% p.a.
$2,742
Principal & Interest
Variable
$0
$0
80%
  • Built and funded by CommBank
  • Owner Occupier
  • Variable
  • Principal & Interest
  • 20% Min Deposit
  • Redraw
  • More details
  • 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.
 Disclosure
5.34% p.a.
5.36% p.a.
$2,789
Principal & Interest
Variable
$0
$350
60%
  • Owner Occupier
  • Variable
  • Principal & Interest
  • 40% Min Deposit
  • Redraw
  • More details
 Disclosure
5.24% p.a.
5.29% p.a.
$2,758
Principal & Interest
Variable
$0
$1,100
80%
  • Up to $2,000 cashback
  • Owner Occupier
  • Variable
  • Principal & Interest
  • 20% Min Deposit
  • Redraw
  • Extra Repayments
  • More details
 Disclosure
Important Information and Comparison Rate Warning
Important Information and Comparison Rate Warning
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