Fixed interest rates were increased by 10 basis points (0.10%), following increases in August, June, and April this year, while Westpac also cut variable rates in September.
Westpac's changes come after CommBank made similar moves on Friday.
A wide array of Westpac's fixed 'Fixed Options' and 'Premier Advantage' products for owner occupiers were increased.
Some of the more noteworthy changes include:
- Premier Advantage P&I 2 Years 70%: Now 1.99% p.a. (3.40% p.a. comparison rate*)
- Premier Advantage P&I 3 Years 70%: Now 2.08% p.a. (3.33% p.a. comparison rate*)
- Fixed Options P&I 2 Years 70%: Now 2.19% p.a. (3.40% p.a. comparison rate*)
- Fixed Options P&I 3 Years 70%: Now 2.28% p.a. (4.05% p.a. comparison rate*)
These rates are for new lending only, and apply for borrowers with a minimum 30% deposit - or 70% loan-to-value ratio (LVR), though 95% LVR loans were also increased.
Greater Bank also lifts fixed home loan rates
Challenger brand Greater Bank has increased a wide variety of fixed home loan interest rates by between 15 and 35 basis points, for both owner occupiers and investors.
The standard three year fixed rate for owner occupiers was increased by 35 basis points to 2.34% p.a. (3.54% p.a. comparison rate*)
A couple of the more noteworthy changes include:
- Ultimate Fixed 3 Years: 15 basis point increase to 2.14% p.a. (3.03% p.a. comparison rate*)
- Inv Ultimate Fixed 3 Years: 15 basis point increase to 2.34% p.a. (3.87% p.a. comparison rate*)
These home loans are for borrowers paying principal & interest.
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Buying a home or looking to refinance? The table below features home loans with some of the lowest interest rates on the market for owner occupiers.
Lender | Home Loan | Interest Rate | Comparison Rate* | Monthly Repayment | Repayment type | Rate Type | Offset | Redraw | Ongoing Fees | Upfront Fees | Max LVR | Lump Sum Repayment | Additional Repayments | Split Loan Option | Tags | Features | Link | Compare | Promoted Product | Disclosure |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
6.04% p.a. | 6.06% p.a. | $3,011 | Principal & Interest | Variable | $0 | $530 | 90% | 4.6 Star Customer Ratings |
| Promoted | Disclosure | |||||||||
5.99% p.a. | 5.90% p.a. | $2,995 | Principal & Interest | Variable | $0 | $0 | 80% | Apply in minutes |
| Promoted | Disclosure | |||||||||
5.69% p.a. | 6.16% p.a. | $2,899 | Principal & Interest | Fixed | $0 | $530 | 90% |
| Promoted | Disclosure |
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