Westpac has chosen to be the next bank to raise home loan rates.
They follow BNZ who raised most rates. In BNZ's case it also raised floating rates.
But Westpac has not taken the opportunity to do the same.
The red bank however has raised its fixed rates by between+10 bps and +30 bps.
Its one year 'special' has been raiserd by +24 bps to 4.49%
Its two year 'special' has been raised by +25 bps to 4.79%
Its three year 'special' has been raised by +30 bps to 5.09%.
And its five year 'special' is up to 5.49%, a rise of +10 bps.
All its standard rates have risen as well.
These increases are effective on Friday 13, 2017.
These increases come even though wholesale swap rates have been falling each day this week. But they are higher over the past month.
Today's changes don't change who has the leading carded rates for mortgage borrowers. HSBC Premier still leads for a one year term, SBS Bank now has the leading rates for 2 years, and TSB Bank has the market-leading offers for 3 and 5 year terms.
See all banks' carded, or advertised, home loan rates here.
A snapshot from the key retail banks is:
| below 80% LVR | 1 yr | 18 mth | 2 yrs | 3 yrs | 4 yrs | 5 yrs |
| % | % | % | % | % | % | |
 |
4.25 | 4.99 | 4.59 | 5.29 | 5.45 | 5.60 |
 |
4.49 | 4.65 | 4.79 | 5.09 | 5.49 | 5.69 |
 |
4.49 | 5.05 | 4.79 | 5.09 | 5.69 | 5.79 |
 |
4.35 | 4.54 | 4.95 | 5.45 | 5.55 | |
 |
4.49 |
5.05 |
4.79 |
5.09 |
5.69 |
5.49 |
 |
4.39 | 4.55 | 4.55 | 4.89 | 5.39 | 5.55 |
 |
4.19 | 4.29 | 4.39 | 4.69 | 5.09 | 5.29 |
 |
4.29 | 4.45 | 4.39 | 4.75 | 5.29 | 5.45 |
 |
4.25 | 4.45 | 4.49 | 4.69 | 5.10 | 5.29 |
In addition to the above table, BNZ has a fixed seven year rate which is 6.15%.
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