Westpac raises home loan rates after swap rate increase
Westpac has increased home loan and term deposit rates in response to higher wholesale rates.
Westpac has become the first major bank to raise its home loan rates following recent increases in swap rates. The bank also increased some of its term deposit rates. The move reflects changes in the wholesale rates that banks pay to borrow funds.
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Westpac the first to increase home loan rates after recent swap rate jumps
The first crack in the dam appears with the Red Bank raising home loan and some term deposit rates in response to higher wholesale rate moves