LOANS NEWS AND GUIDES

A research analyst with Macquarie Equities Research says he believes that Australian banking major National Australia Bank will be the first lender to raise its rates after the election. According to The Australian, banks will likely raise their interest rates prior to the Federal election, but according to Macquarie’s Michael Wiblin, once the election is over, interest rates will be fair game. “The sensitivity around mortgage repricing over the last six months is due to the [forthcoming] election,” Mr. Wiblin said. Mr. Wiblin says he thinks that NAB would be the first of the four major lenders to raise its rates, because its current standard variable rate of 7.24 per cent was currently the lowest amongst the Big Four by 12 basis points Wiblin predicted that the NAB might the first of the big four banks to lift rates because its 7.24 percent standard variable rate was the lowest of its major competitors by 12 basis points. “We do not comment on speculation by others about interest rates.

Read the original:
NAB Likely To Be First Lender To Raise Rates After Election