Westpac has taken an 80 basis point chunk out of its revolving credit rate (Choices Everyday Home Loan Product) today taking it to 5.69%. Westpac also dropped its standard variable rate 20 points to 6.29% and its six-month fixed rate dropped by 10 points to 5.29%. Click here for more.
On the other hand, SBS Bank has made increases to some of its rates this morning. Its six-month fixed rate went up by 20 basis points, both its two and three-year rates went up by 5 basis points and its five-year rate had 10 points added to it. This makes its six-month rate the highest offered by a minor bank on our table at 5.80%.
Our experts views story looks into several of our banks playing down the risk of a housing bubble.
