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Several lenders, including some big names like NAB, continued to increase their fixed rates in anticipation of a possible rate hike as early as next year.
These are some of the biggest movements by Australian lenders over the past week.
NAB
NAB rolled out changes to its fixed rates under the Choice Package and Tailored Home Loan products.
The changes are for both investors and owner-occupiers and follows the recent set of changes it announced late October.
Here are some of the biggest changes in NAB’s line-up:
|
NAB Loan Product |
Change |
New Advertised Rate |
Comparison Rate |
|
Choice Package Tailored Fixed - P&I 1 yr 150k+ |
+0.50 |
2.49% p.a. |
4.19% p.a. |
|
Choice Package Tailored Fixed - P&I 5 yrs 150k+ |
+0.40 |
3.49% p.a. |
4.15% p.a. |
|
Inv Tailored Fixed - P&I 3 yrs |
+0.40 |
3.49% p.a. |
4.82% p.a. |
|
Tailored Fixed - P&I 1 yr |
+0.50 |
2.59% p.a. |
4.47% p.a. |
bcu
bcu hiked its standard fixed rate for both owner-occupiers and investors, boosting rates by up to 20bps. These are some of the most significant changes:
|
bcu Loan Product |
Change |
New Advertised Rate |
Comparison Rate |
|
Investment Fixed P&I 4 yrs |
+0.20 |
2.99% p.a. |
3.81% p.a. |
|
Residential Fixed P&I 3 yrs |
+0.10 |
2.39% p.a. |
3.63% p.a. |
|
Investment Fixed P&I 3 yrs |
+0.05 |
2.54% p.a. |
3.79% p.a. |
|
Residential Fixed P&I 5 yrs |
+0.15 |
2.99% p.a. |
3.63% p.a. |
bcu also hikes its standard fixed rate for investors on interest-only repayment terms.
ING
ING adjusted its fixed rates for owner-occupiers under the Orange Advantage Residential product.
The lender also made upward changes to its standard fixed rates for both owner-occupiers and investors. These are some of the changes:
|
ING Loan Product |
Change |
New Advertised Rate |
Comparison Rate |
|
Orange Advantage Residential Fixed 4 yrs ≤ 80% |
+0.40 |
3.19% p.a. |
3.82% p.a. |
|
Orange Advantage Residential Fixed 3 yrs ≤ 80% |
+0.30 |
2.89% p.a. |
3.81% p.a. |
|
Residential Fixed 3 yrs ≤80% |
+0.40 |
3.29% p.a. |
3.85% p.a. |
|
Investment Fixed P&I 5 yrs |
+0.50 |
3.59% p.a. |
4.31% p.a. |
BOQ
BOQ recently made several changes to its fixed rates under its Discounted Rate and $1 LMI options. The changes are for both investors and residential owners.
The following are the biggest increases in BOQ’s fixed-rate line-up:
|
BOQ Loan Product |
Change |
New Advertised Rate |
Comparison Rate |
|
Residential Fixed 3 yrs 80-85% $1 LMI Offer |
+0.80 |
3.34% p.a. |
3.30% p.a. |
|
Residential Fixed 2 yrs Discount Rate <80% |
+0.25 |
2.59% p.a. |
3.15% p.a. |
|
Investment Fixed P&I 2 yrs Discount Rate <80% |
+0.20 |
2.79% p.a. |
3.33% p.a. |
|
Investment Fixed P&I 5 yrs 80-85% $1 LMI Offer |
+0.65 |
3.94% p.a. |
3.68% p.a. |
Bank Australia
Bank Australia introduced up to 30bps hike to its fixed rates under its Basic and Premium Package loan options. These are the most substantial changes:
|
Bank Australia Loan Product |
Change |
New Advertised Rate |
Comparison Rate |
|
Basic Fixed 3 yrs <80% |
+0.30 |
2.90% p.a. |
2.49% p.a. |
|
Premium Package Fixed 5 yrs <80% |
+0.20 |
3.20% p.a. |
3.05% p.a. |
|
Investment Premium Package P&I Fixed 3 yrs <80% |
+0.30 |
3.20% p.a. |
3.21% p.a. |
|
Investment Basic P&I Fixed 5 yrs <80% |
+0.20 |
3.30% p.a. |
2.98% p.a. |
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