NAB Slashes Fixed Home Loan Rates as February Rate Cut Looms

Will the RBA Cut Rates in February? NAB Thinks So

With all major banks now predicting a February cash rate cut, NAB has taken a bold step by slashing fixed home loan rates for both owner-occupiers and investors.

The lowest fixed rate at NAB is now 5.84% p.a. for a three-year fixed home loan (6.60% p.a. comparison rate*), undercutting rates from CommBank and Westpac.

This move follows NAB’s official forecast of a 25 basis point rate cut at the RBA’s February meeting. If this happens, it would mark the first cash rate reduction in over four years, bringing the official rate down to 4.10%.

New NAB Fixed Home Loan Rates for Owner-Occupiers

New NAB Fixed Home Loan Rates for Investors

Is a Cash Rate Cut Now a Certainty?

NAB joins CommBank, Westpac, and ANZ in predicting a February rate cut, following better-than-expected inflation data.

• Q4 CPI figures showed inflation rising just 0.2%, the lowest quarterly increase since mid-2020.
• Trimmed mean inflation came in at 3.2%, below the RBA’s 3.4% forecast.
• Financial markets are confident—the ASX RBA rate tracker estimates a 95% chance of a cut on February 18.

However, some experts warn that the strong labour market could delay rate cuts. As WeBull Securities CEO Rob Talevski noted:

“With unemployment at 4% and strong consumer spending, inflationary pressure could remain.”

What Should Borrowers Do Now?

With NAB’s rate cuts and the RBA potentially easing monetary policy, now is the perfect time to refinance or lock in a lower fixed rate.

At Vantage Loans, we can help you find the best mortgage deal, whether you’re an owner-occupier or investor. Contact us today at 1800 595 500, email [email protected], or visit vantagefinancial.com.au to explore your refinancing options.