Westpac lifts fixed home loan rates for the fourth time this year

On Tuesday Westpac made slight increases to its home loan interest rates fixed for between two and five years.

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.

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Disclaimers

The entire market was not considered in selecting the above products. Rather, a cut-down portion of the market has been considered. Some providers' products may not be available in all states. To be considered, the product and rate must be clearly published on the product provider's web site. Savings.com.au, yourmortgage.com.au, yourinvestmentpropertymag.com.au, and Performance Drive are part of the Savings Media group. In the interests of full disclosure, the Savings Media Group are associated with the Firstmac Group. To read about how Savings Media Group manages potential conflicts of interest, along with how we get paid, please click through onto the web site links.

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