Westpac lifts interest rates; other banks expected to follow

Move will add $26 a month to the interest bill of an average $300,000, 30-year home loan

Westpac has become the first of the big four banks to lift interest rates out-of-cycle, announcing an increase in its variable interest rates for owner occupied and residential investment property loans by 0.14%.

The move is expected to prompt its competitors to lift their rates.

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from The Guardian https://ift.tt/2Nrp6Fz
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