Friday 1 July 2022 01:36 AM Commonwealth Bank and NAB have raised fixed rates trends now
Another major Australian bank hikes its fixed interest rates starting TODAY amid warnings the Reserve Bank will hammer mortgage holders National Australia Bank joined the Commonwealth Bank in lifting fixed loan rates Economists expect Reserve Bank to hike rates by 0.5 percentage points on July
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Another major bank has now raised its fixed mortgage rates in a clear sign official interest rates are set to surge.
National Australia Bank on Friday joined the Commonwealth Bank in lifting their fixed rates.
Economists with Australia's biggest banks are widely expecting the Reserve Bank of Australia to raise the cash rate by 0.5 percentage points at its July 5 meeting.
This would take the cash rate to a three-year high of 1.35 per cent from the existing level of 0.85 per cent.
NAB's one-year fixed rate is increasing by