|Westpac Increase Mortgage Rates
Westpac has widely matched earlier moves made by ANZ by
increasing mortgage rates in New Zealand across a range of fixed contracts.
Announced just days before the latest Reserve Bank announcement that left the
official cash rate steady at 1.75 percent, changes by Westpac were made
effective on Thursday, May 11, 2017.
While many short-term rates at Westpac are now higher than average, it
retains a market-leading position for 5-year terms at 5.59 percent, the same as
HSBC. Despite rising rates, equivalent term deposit rate increases have not