Westpac Raise Home Loan Interest Rates by 0.20%

In an unexpected move Westpac decided to raise interest rates in its variable home loan (owner occupied) and residential investment property loan rates by 20 basis points. The new rates take effect from 20 November 2015.

It is tipped that the big banks and smaller lenders will also look to the same but we will have to wait and see.

It is advised to wait a month or so to see how other lenders respond to Westpac’s move to increase interest rates.

However, you can compare home loans and compare investment loans at our home loan comparison pages.

If you need help with your home, investment or commercial finances we have professional mortgage advisors Australia wide that offer free mortgage help by simply contacting us.