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Major bank announces fixed rate cut

by Staff Reporter7 minute read

In further confirmation of a highly competitive mortgage market, a major bank has cut its fixed rates on selected products.

NAB Broker cut the interest rates on its 3-year and 4-year standard fixed rate Homeplus Package products by 0.05 per cent.

The new rates of 5.14 and 5.44 per cent respectively are the lowest available across all major lenders.

NAB Broker's general manager, distribution, 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,” Mr Kane added.