NAB rolls out another fixed-rate hike

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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. (5.19% p.a. comparison rate)
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. (3.89% p.a. comparison rate)
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. (4.31% p.a. comparison rate)
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)

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