Major cuts fixed rates for brokers

A major bank has announced a 5bp interest rate cut on selected products for brokers.

NAB announced today cuts to its fixed rate for its broker-facing brand Homeside.

The major bank has slashed interest rates by 5 basis points for its Homeplus Package 3-year and 4-year standard fixed home loans.

The rates are now 5.15% for a 3-year fixed rate and 5.44% for 4-years.

NAB broker distribution, general manager, Steve Kane said NAB Broker's market-leading rates were proof of its commitment to being competitive.

"NAB Broker is committed to offering great value and certainty for customers. We know that now is the time people are looking to get their finances in order and plan for the year ahead.

"We're proud of our commitment to remain competitive and will continue to offer market leading products, and high quality service to brokers," he said.

"Competition remains strong in the fixed rate market and we continue to offer highly competitive rate options on one to four year terms.”

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