Westpac hikes interest rates on fixed home loans
- 4 hours ago
- 1 min read
Westpac has lifted its fixed home loan rates, adding pressure on borrowers amid rising global uncertainty.
The bank increased fixed rates by 0.15 percentage points for both owner-occupiers and investors. The change applies to all new fixed loans and customers switching from variable to fixed rates from today.
Westpac said the move reflects higher funding costs and keeps its rates in line with market conditions. Its lowest fixed rate now sits at 6.39%.
The update follows a recent warning from the bank that interest rates could climb further, potentially reaching their highest level in nearly two decades by 2026.
According to Westpac’s outlook, borrowers may face up to three more rate hikes from the Reserve Bank of Australia.
Rates have already risen from 3.60% at the end of 2025 to 4.15% after two increases this year.
The revised forecast is linked to ongoing tensions in the Middle East, which are expected to disrupt fuel supply and slow recovery. Westpac now anticipates a longer period of economic pressure than previously expected.
Source : 9 News
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