NAB joins CBA and Westpac in raising fixed mortgage rates

By Tom Watson · · 2 min read
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National Australia Bank (NAB) has become the latest major bank to increase interest rates on its fixed rate home loans, bumping up rates by between 10 and 20 basis points this morning.

This is the fourth time that NAB has lifted fixed rates since the start of November, with the latest changes impacting rates on both the bank’s Tailored Home Loan and the Tailored Home Loan (Choice Package) products.

Following the move, the lowest fixed rates now on offer from the bank are with the Tailored Home Loan (Choice Package) for owner occupiers (<95% LVR):

  • 1-year fixed rate: 2.64% p.a. (3.94% p.a. comparison rate*)
  • 2-year fixed rate: 2.89% p.a. (3.90% p.a. comparison rate*)
  • 3-year fixed rate: 3.34% p.a. (3.96% p.a. comparison rate*)
  • 4-year fixed rate: 3.54% p.a. (4.00% p.a. comparison rate*)
  • 5-year fixed rate: 3.69% p.a. (4.06% p.a. comparison rate*)

By comparison, this time last year fixed rates as low as 1.98% for 3-year and 4-year terms were on offer with the Choice Package loan.

NAB is not the only major lender to have upped fixed rates in recent weeks though, as the Commonwealth Bank increased its own rates by 5-20bp yesterday and Westpac lifted fixed rates in late January.

Here are the lowest advertised 1, 3 and 5-year fixed home loan rates currently available from ANZ, CBA, NAB and Westpac for an owner-occupier borrower with an LVR of 80%.

Lowest ‘Big four’ fixed home loan rates - February 4, 2022

1-year3-year5-year
ANZ2.39% p.a. (3.37% p.a. comparison rate*)2.99% p.a. (3.42% p.a. comparison rate*)3.59% p.a. (3.66% p.a. comparison rate*)
CBA2.59% p.a. (4.15% p.a. comparison rate*)3.24% p.a. (4.11% p.a. comparison rate*)3.79% p.a. (4.24% p.a. comparison rate*)
NAB2.64% p.a. (3.94% p.a. comparison rate*)3.34% p.a. (3.96% p.a. comparison rate*)3.69% p.a. (4.06% p.a. comparison rate*)
Westpac2.49% p.a. (3.64% p.a. comparison rate*)3.14% p.a. (3.66% p.a. comparison rate*)3.69% p.a. (3.86% p.a. comparison rate*)

The major banks have hardly been alone in raising their rates though - rather, they’ve been part of a host of lenders who have been rushing to lift fixed interest rates in the past few months.

According to numbers from the Mozo database, 78 mortgage lenders increased over 2,800 individual fixed home loan rates between the start of November and the end of January.

As a result of these recent increases the average fixed home loan rates in our database have skyrocketed, particularly on the longer 3, 4 and 5-year terms.

RELATED: Home loan rate check: How do ANZ, CBA, NAB and Westpac compare?

Interested in seeing how the fixed offers from the major banks stack up against other deals?

Start comparing offers from a range of Australian lenders using Mozo’s handy fixed rate home loan comparison tables, or check out some of the great rates in the table below.

Last updated 11 July 2025 Important disclosures and comparison rate warning*
What are your home loan needs?
Loan purpose
Buying or Refinancing
  • Promoted

    Fixed Rate Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • 5% min deposit
    Interest rate
    5.49 % p.a.
    Fixed 2 years
    Comparison rate
    5.77 % p.a.
    Initial monthly repayment
    $2,836
    Go to site
    • No ongoing annual fees
    • Make up to $25,000 extra repayments during a fixed period, fee free (T&Cs apply)
    • Lock in for up to 5 years.
  • Promoted

    Fixed Rate Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • Interest only
    • 20% min deposit
    Interest rate
    5.49 % p.a.
    Fixed 2 years
    Comparison rate
    5.76 % p.a.
    Initial monthly repayment
    $2,836
    Go to site
    • Free extra repayments of up to $25,000 during the fixed rate period.
    • Split loan available
    • Weekly, fortnightly, or monthly repayment options

  • Fixed Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • 5% min deposit
    • Redraw available
    • Cashback
    Interest rate
    5.29 % p.a.
    Fixed 2 years
    Comparison rate
    5.72 % p.a.
    Initial monthly repayment
    $2,773
    Go to site
    • Get up to $4,000 cashback (T&Cs apply)
    • Up to 12 months repayments in advance without penalties
    • Split loan available

  • Fixed Rate Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • Interest only
    • 20% min deposit
    Interest rate
    5.49 % p.a.
    Fixed 2 years
    Comparison rate
    5.76 % p.a.
    Initial monthly repayment
    $2,836
    Go to site
    • Free extra repayments of up to $25,000 during the fixed rate period.
    • Split loan available
    • Weekly, fortnightly, or monthly repayment options

  • Fixed Rate Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • 5% min deposit
    Interest rate
    5.49 % p.a.
    Fixed 2 years
    Comparison rate
    5.77 % p.a.
    Initial monthly repayment
    $2,836
    Go to site
    • No ongoing annual fees
    • Make up to $25,000 extra repayments during a fixed period, fee free (T&Cs apply)
    • Lock in for up to 5 years.

  • Flex Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Offset available
    • Redraw available
    Interest rate
    5.53 % p.a.
    Fixed 2 years
    Comparison rate
    5.86 % p.a.
    Initial monthly repayment
    $2,848
    Go to site
    • Multiple offset accounts available
    • Free extra repayments
    • Easy redraw facility
Showing 4 results from 407 home loans. Use the filters to see more

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* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

** Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.

^See information about the Mozo Experts Choice Home Loan Awards

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.

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