SYDNEY, March 16 National Australia Bank
on Thursday said it was raising rates on variable home
loans for owner occupiers and investment properties, blaming
rising costs and intense competition.
The bank lifted its variable rate for owner occupiers to
5.32 percent, from 5.25 percent, and rates on residential
investment home loans to 5.80 percent, from 5.55 percent.
"The difference between what we charge and how much it costs
us to fund a mortgage remains under pressure, with intense
competition, increasing regulation, and elevated funding costs,"
said NAB chief operating officer Antony Cahill.
(Reporting by Wayne Cole; Editing by Simon Cameron-Moore)