NAB has hiked all of its long-term fixed rates by 30 points in a major signal to the mortgage marketplace.
The decision to raise rates is not unexpected, given the prevailing market conditions, but the size of the hike clearly demonstrates that NAB is bracing for a cash rate rise in 2024.
The flagship two-year rate remains below the symbolic 2% threshold, but it is now the only rate that NAB will offer at that level.
Some banks, notably fintech 86 400, still have a three-year fixed beneath 2%, with the NAB-owned digital lender at 1.85%.
More to follow
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