Westpac the first to hike rates in 2022
Westpac has become the first major bank this year to increase its fixed rates for owner occupiers and investors.
As interest rates begin to take off, borrowers are being urged to examine their finance arrangements (Image source: Shutterstock.com)
While the Reserve Bank of Australia is not expected to raise interest rates for at least another year, Westpac has become the first major bank this year to increase its fixed rates for owner occupiers and investors.
Westpac has increased its shorter-term fixed rates of one and two years by up to 0.10 per cent, while hiking its longer-term fixed rates of three and four years by 0.15 per cent and five years by 0.20 per cent.
The rate hikes also …
