Australia’s second-largest lender on Thursday hiked its fixed home loan rates by up to 0.51 per cent, according to RateCity. NAB increased its three-year fixed term rate by as much as 51 basis points, bringing it to 2.79 per cent. The property price boom was driven in some significant measure by these rates:Damien Roylance, mortgage broker and MD at Entourage Finance, told Australian Broker that he had been seeing 9 out of 10 customers choose a fixed rate in recent weeks. “We’re having the conversation with every single customer at the moment,” he told Australian Broker. The equivalent of four rate hikes in a month is pretty extraordinary stuff.

Source: Stuff November 11, 2021 06:46 UTC