NAB Broker will reduce all Homeside variable rates for new and existing customers by 0.10 per cent, effective today.

The move which was announced today will mean that for loans of $250,000 or above, the variable interest rate on the Homeside HomePlus Special Offer would be reduced to 5.17 per cent.

NAB Broker will also offer a Homeside 2 year fixed rate loan of 4.99 per cent, effective today.

NAB Broker regional general manager Matt Lawler when making the announcement encouraged brokers to make careful considerations before advising clients to fix.

“We continue to encourage brokers to take a long term view of interest rate movements when making recommendations to their clients. At this point in the rate cycle, the decision whether to take a fixed, variable and mixed option is an important consideration.

“In our experience, fixed rate pricing typically bottoms prior or simultaneously with variable rate pricing, rather than after variable rates begin to rise”, Mr Lawler said.

Source: Mortgage Business