Fixed interest rates were increased by between 10 basis points (0.10%), and 21 basis points (0.21%).

This increase follows on from the previous increase of 10 basis points on 19 October, as well as increases in April, June and August this year.

Across Westpac’s home loan portfolio, ‘Fixed Options', 'Investment Fixed’ and 'Premier Advantage' products for owner occupiers and investors were increased. 

Some of Westpac’s changes include:

  • Fixed Options P&I 3 Years 70%: Now 2.49% p.a. (4.10% p.a. comparison rate*)

  • Fixed Options P&I 3 Years 95%: Now 2.59% p.a. (4.20% p.a. comparison rate*)

  • Premier Advantage Fixed P&I 150k+ 3 Years 70%: Now 2.29% p.a. (3.38% p.a. comparison rate*)

  • Investment Fixed IO 3 Years 70%: Now 2.89% p.a. (4.79% p.a. comparison rate*)

Westpac subsidiaries St George, BankSA and Bank of Melbourne also made similar changes.

This comes just two days after the RBA left the cash rate unchanged at 0.10% for the 13th month in a row, but signalled it could raise it earlier than its initial 2024 guidance.

Bankwest also lifts fixed home loan rates

CommBank-owned Bankwest has increased a range of fixed home loan interest rates by between 15 and 72 basis points for fixed owner occupied and investment home loans.

The most significant rise saw Bankwest’s three year fixed rate for owner occupiers increased by 72 basis points to 2.99% p.a. (4.36% p.a. comparison rate*).

Further Bankwest rate changes across its home loan portfolio include:

  • Complete Home Loan Fixed Rate Owner Occupied P&I 5 Years 80%: Now 3.09% p.a. (4.01% p.a. comparison rate*)

  • Fixed Rate Owner Occupied P&I 3 Years 80-90%: Now 3.19% p.a. (4.41% p.a. comparison rate*)

  • Fixed Rate Investment P&I 3 Years 90%: Now 2.99% p.a. (4.82% p.a. comparison rate*)


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VariableMore details
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Important Information and Comparison Rate Warning

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of February 27, 2024. View disclaimer.


Image by VisionPics via Pixabay





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