Westpac Rises Fixed Home Loan Rates | Auckland News

Westpac’s fixed home loan rates are rising—up to 26 basis points on 18-month and 2-year loans, and 6 basis points on 3-year loans—blaming global tensions in the Middle East for soaring wholesale costs. While the cash rate hike earlier this month was already priced in, the bank is absorbing part of the cost while passing some on to borrowers. Term deposits are also adjusting, meaning savers and borrowers alike are feeling the ripple effects of global instability. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/8538ed14158d6c2c