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Westpac Plans to Raise Home Loan Interest Rates

 

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In an effort to protect against future financial crises, Westpac is planning to raise home loan interest rates.

Starting in the middle of next month, the variable rate mortgage loans for owner occupiers and property investors will rise by 20 basis points.

This will cause Westpac’s headline standard variable mortgage rate to increase to 5.68 per cent for owner occupiers and the variable interest rate for investor loans will rise to 5.95 per cent. Fixed rates will remain unchanged.

Image via Flickr/GotCredit

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