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CommBank, Westpac make more moves on interest rates

Banks continue to tweak interest rates to entice customers towards variable rate loans, with Commonwealth Bank hiking its fixed rate interest loans for the third time in six weeks and Westpac slashing rates on variable finance.

CommBank branch in Melbourne
CommBank's latest hikes will likely motivate other lenders to follow suit. Photo: Aluviart / Shutterstock

Banks continue to tweak interest rates to entice customers towards variable rate loans, with Commonwealth Bank hiking its fixed rate interest loans for the third time in six weeks and Westpac slashing rates on variable finance. 

CommBank’s changes included hikes of owner-occupier fixed rates ranging between 0.15 per cent to 0.3 per cent, while investor fixed rates were increased by up to 0.6 per cent, depending on the length of the term.

Those …