September 9, 2018 / 11:27 PM / 2 months ago

National Australia Bank holds mortgage rates steady after rivals hike

SYDNEY, Sept 10 (Reuters) - National Australia Bank said on Monday it will not lift its variable mortgage rate, in a bid to win market share after its three main rivals hiked their rates.

“National Australia Bank will continue to hold its standard variable rate for home loans at 5.24 per cent,” the bank said in a statement on its website.

Commonwealth Bank of Australia, Westpac Banking Corporation and Australia and New Zealand Banking Group all already hiked their rates, citing higher funding costs. (Reporting by Tom Westbrook; editing by Richard Pullin)

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