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Westpac First Big Australian Lender to Raise Mortgage Rates.
Westpac Banking Corp. raised its key mortgage rate, the first of the nation’s biggest banks to decide passing on higher funding costs is worth the risk of further reputational damage.
Effective Wednesday, 19 September 2018, Westpac will be increasing our variable home loan rates by +0.14% p.a. Rate changes include:
- Owner Occupier Principal & Interest Home Loan variable rate increasing by 0.14%p.a. to 5.38%p.a. (comparison rate 5.52%p.a.*)
Owner Occupier Interest Only Home Loan variable rate increasing by 0.14%p.a. to 5.97%p.a. (comparison rate 6.11%p.a.*) - Residential Investment Principal & Interest Home Loan variable rate increasing by 0.14%p.a. to 5.93%p.a. (comparison rate 6.07%p.a.*)
- Residential Investment Interest Only Home Loan variable rate increasing by 0.14%p.a. to 6.44%p.a. (comparison rate 6.57%p.a.*)
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