Just three lenders offering 4-year fixed rates under 2 per cent, down from 25
Australia’s fourth largest lender, NAB, has today hiked its four-and five-year fixed rates by up to 0.25 per cent.
It followed similar moves from CBA and Westpac.
NAB was the last of the big banks to have a 4- year fixed rate under 2 per cent.
Its lowest four-year rate has risen from 1.98 per cent to 2.19 per cent.
RateCity.com.au database analysis reveals just three lenders are now offering 4-year fixed rates under 2 per cent, down from 25 at the start of the year.
30 lenders have hiked at least one 4-year fixed rate in the last two months.
Other lenders to hike 4-year rates in the last week include Macquarie Bank, QBank and TicToc.
RateCity.com.au research director, Sally Tindall, said the NAB move means there are now no big banks offering four-year rates under 2 per cent.
"Now there’s just three, and they’re probably not going to keep these rates long,” she said.
The 1.95% rate is the lowest 4-year fixed rate from BankVic.
The other lenders offering at least one 4-year fixed rate under 2% are Illawarra Credit Union: 1.99% and ING: 1.99%.