Australian major bank hiked home loan rates, Aussie slips from 0.7170

One of the Australian top 4 big national banks, the National Australia Bank (NAB), hiked the home loan rates on Thursday.

The news sent the Aussie back into the red zone near 0.7135 region, reversing the post-Australian jobs led rally to 0.7167 tops.

Key Details:

NAB raises mortgage rates up by 12 to 16 basis points from January 31^st.

Says rate rise is due to the sustained increase in funding costs.