NAB hikes fixed home loan rates for the second time in two weeks

NAB has made a shocking move in hiking its fixed home loan rates for the second time in as many weeks.

Friday’s adjustment comes just 14 days after the bank’s previous increase, with rates rising by 0.30 per cent across all fixed term offerings.

This move effectively ends NAB offering the lowest fixed rate among the big four banks.

NAB’s lowest fixed rate has jumped to 6.34 per cent for a one-year term, with longer term stability costing borrowers even more, with a two-year term sitting at 6.39 per cent.

This repricing has allowed Westpac to seize the title of the lowest fixed rate provider, currently offering a two-year fixed term at 6.14 per cent.

This move is not isolated to NAB, as the broader market reacts to the Reserve Bank of Australia’s cash rate decision in March and the upcoming predicted hikes in May.

ANZ, CommBank and NAB have predicted another 0.25 increase in the next month.

Chief economist David Robertson at Bendigo Bank predicted “a hold in May, but with a likely third hike for 2026 in August” as ongoing conflict in the Middle East has a “domino effect” on inflation.