NAB defends itself for refusing to budge on RBA rates
Article by Mozo
NAB’s head of head of personal banking Lisa Gray commented: "While customer interest rates have been falling, the actual cost of banks providing a mortgage has increased significantly since the credit crisis hit in mid-2007."
She said that the bank’s home loan interest rates needed to reflect this.
The decision will mean that NAB customers on variable rates will not see their home loan payments drop this month, while many other customers are still waiting to see what their home loan provider will decide to do.
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