Westpac has changed two home loan rates.
It has removed its one year special, effectively raising it by 10 bps.
This puts it back to the same rate offered by all its rivals except BNZ who has retained its 10 bps advantage.
Westpac have also cut their three year fixed rate. The reduction is 26 bps to 6.39%, matching the rate offered by BNZ.
The changes are effective on Friday, February 14, 2014.
Changing rates early on a Friday is an unusual move by a bank as this is the usual day for contract settlement.
For clients of other banks who may be settling at 6.65% or 6.60%, revised documents may be needed if you wanted those banks to match the latest Westpac rate.
See all carded, or advertised, bank home loan rates here.
| below 80% LVR | 1 yr | 18 mths | 2 yrs | 3 yrs | 5 yrs |
 |
5.49% | 5.85% | 6.29% | 6.65% | 7.20% |
 |
5.49% | 5.85% | 6.29% | 6.60% | 7.20% |
| BNZ | 5.39% | 5.85% | 6.29% | 6.39% | 7.20% |
| Kiwibank | 5.49% | 5.99% | 6.40% | 6.90% | |
 |
5.49% | 5.69% | 6.29% | 6.39% | 7.20% |
| Co-op Bank | 5.29% | 5.85% | 5.85% | 6.25% | 7.10% |
 |
5.39% | 6.29% | 6.55% | 7.20% | |
| SBS / HBS | 5.35% | 5.60% | 5.80% | 6.10% | 6.70% |
| TSB | 5.30% | 5.85% | 5.99% | 6.40% | 7.20% |
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