In Your Interest

Higher interest rates ahead

National Australia Bank (NAB) announced it will raise its standard variable mortgage rate by 25 basis points to 5.8 per cent for property investors and by seven points for owner-occupiers to 5.32 per cent. The increased rates are due to take effect next Friday. Speaking earlier this week, RBA assistant governor Michele Bullock said Australia’s regulatory bodies, including APRA, ASIC, and the Treasury, are watching rising house prices "very carefully”. Australia’s hot property markets, particularly Sydney, are of particular concern having just experienced a pickup in January. "We're focused on whether things might be procyclical and whether or not there are implications for the resilience of

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interest rates

The comparison rate provided is based on a loan amount of $250,000, term of 25 years, principal & interest repayments. It only applies to the examples given. Different amounts and terms will result in different Comparison Rates. 

Owner Occupied 2 year fixed rate

Starting from

2.19

%

p.a

Comparison Rate *

2.39

%

p.a

Investment 2 year fixed

Starting from

%

p.a

2.49

Comparison Rate *

2.74

%

p.a

*

T 0402 684 199

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