Fresh RBA hike tipped while lenders cut rates

Mortgage lenders are cutting rates to fight for customers even as three major banks now expect another RBA hike this year.National Australia Bank has become the latest major to change its cash rate forecast, tipping a 0.25 percentage point increase at the RBA’s September 28-29 meeting.Mortgage borrowers face conflicting signals as three major banks tip another RBA rate hike this year while dozens of lenders cut variable home loan rates to chase customers.Commonwealth Bank and ANZ expect a hike in November, while Westpac expects the RBA’s next move to be a cut in August 2027, according to Canstar.RELATED: ‘Can’t tell’: Star exposes $7k Block gap$100bn blow out: Albo under fire over tradiesAussies tap super amid $20k deposit gap A September hike would add about $91 a month to repayments on a $600,000 mortgage with 25 years remaining, Canstar analysis shows.The hit would rise to about $122 a month on an $800,000 mortgage and $152 on a $1m loan.Yet lenders themselves are moving in the opposite direction.Canstar data shows 35 lenders have lowered variable rates for new customers since June 1, including refinancers, while 52 now offer at least one variable loan below 6 per cent.Fourteen ...