Fixed Rate Rises-NAB & Bendigo
National Australia Bank has announced it will be lifting interest rates on some of its fixed rate home loan products.
NAB’s 1 year rate rises 0.26% to 5.75%; 2 years up 0.4% to 6.65%; and 3 years by 0.29% to 6.99%.
The 4 and 5 years fixed rates remain unchanged.
It is believed the rate rises are in line with NAB economists prognosis that offical rates will rise before the end of the year and they are tailoring their loan rates accordingly.
Bendigo Bank also announced that it too will be raising its interest rates on fixed rate home loans with the 2, 3, and 4 year rates rising to 6.65%, 6.99%and 7.20% respectively.
Looks like the Bendigo has a similar outlook on rates as the NAB.