Off the back of raising fixed home loan rates three weeks ago, on Thursday Westpac made more changes to fixed interest rates.
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:
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Fixed Options P&I 3 Years 70%: Now 2.49% p.a. (4.10% p.a. comparison rate*)
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Fixed Options P&I 3 Years 95%: Now 2.59% p.a. (4.20% p.a. comparison rate*)
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Premier Advantage Fixed P&I 150k+ 3 Years 70%: Now 2.29% p.a. (3.38% p.a. comparison rate*)
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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:
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Complete Home Loan Fixed Rate Owner Occupied P&I 5 Years 80%: Now 3.09% p.a. (4.01% p.a. comparison rate*)
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Fixed Rate Owner Occupied P&I 3 Years 80-90%: Now 3.19% p.a. (4.41% p.a. comparison rate*)
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Fixed Rate Investment P&I 3 Years 90%: Now 2.99% p.a. (4.82% p.a. comparison rate*)
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Lender | Advertised rate | Comparison rate | Monthly repayment | Rate Type | Offset | Redraw | Ongoing Fee | Upfront Fees | LVR | Lump Sum Repayment | Additional Repayments | Pre-approval | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Variable | More details | ||||||||||||
| FEATUREDLIMITED TIME OFFER | Smart Booster Home Loan Discounted Variable - 2yr (LVR < 80%)
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Smart Booster Home Loan Discounted Variable - 2yr (LVR < 80%)
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| Variable | More details | ||||||||||||
| FEATURED100% FULL OFFSET ACCOUNTNO APPLICATION FEE OR ONGOING FEES | Low Rate Home Loan - Prime (Principal and Interest) (Owner Occupied) (LVR < 60%)
| ||||||||||||
Low Rate Home Loan - Prime (Principal and Interest) (Owner Occupied) (LVR < 60%)
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| Variable | More details | ||||||||||||
| FEATUREDREFINANCE IN MINUTES, NOT WEEKS | Nano Home Loans Variable Owner Occupied, Principal and Interest (Refinance Only)
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Nano Home Loans Variable Owner Occupied, Principal and Interest (Refinance Only)
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| Variable | More details | ||||||||||||
| FEATUREDNO UPFRONT OR ONGOING FEES | Owner Occupier Accelerates - Celebrate (LVR < 60%) (Principal and Interest)
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Owner Occupier Accelerates - Celebrate (LVR < 60%) (Principal and Interest)
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- Fast turnaround times, can meet 30-day settlement
- For purchase and refinance, min 20% deposit
- No ongoing or monthly fees, add offset for 0.10%
Rates correct as of November 27, 2021. View disclaimer.
Image by VisionPics via Pixabay
