March 16, 2017 / 2:30 AM / 10 months ago

National Australia Bank raises variable, investors home loan rates

SYDNEY, March 16 (Reuters) - 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)

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