NAB cuts rates on home loans to ease coronavirus impact on customers

Reuters reported earlier today that the National Australia Bank (NAB) announced a rate cut on its basic home loan product, as it enables its customers to deal with the coronavirus crisis.

Key points

“NAB Base Variable Rate special offer has been reduced by 0.15% pa to 2.69 % for owner occupiers paying principal and interest who have at least a 20% deposit.” 

“NAB fixed rates have been reduced for both owner-occupiers and residential investors paying principal and interest, with NAB Choice Package fixed rates now starting at 2.19% p.a. for owner-occupiers and 2.49% p.a. for residential investors.”

AUD/USD fails to cheer the news

The aussie dollar ignores the above report, as it remains weighed by the broad risk-aversion amid looming concerns over the virus resurgence.

AUD/USD, currently, drops 0.07% to 0.6877, as the bears eye the Australian jobs report for the next push lower.