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Bankwest lifts variable rates

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James Mitchell 3 minute read

Bankwest has decided to up its variable mortgage rates.

Bankwest revealed that it will be lifting variable home loan interest rates by 18 basis points effective 17 November 2015.

Bankwest’s standard variable rate is now 5.65 per cent and investor variable rate is now 5.97 per cent.

The CBA-owned lender said its home loan variable interest rates remain some of the most competitive in the market.

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The move by Bankwest follows yesterday’s 20-basis-point rate hike from ME.

All four major banks have raised their variable rates. Westpac moved first with a 20-basis-point rate hike announced on 14 October.

CBA followed with a 15-basis-point rate rise across its variable mortgages, NAB with a 17-basis-point rise and ANZ with an 18-basis-point increase.

[Revealed: NAB Broker reveals new rates]

 

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James Mitchell

James Mitchell

James Mitchell has over eight years’ experience as a financial reporter and is the editor of Wealth and Wellness at Momentum Media.

He has a sound pedigree to cover the business of mortgages and the converging financial services sector having reported for leading finance titles InvestorDaily, InvestorWeekly, Accountants Daily, ifa, Mortgage Business, Residential Property Manager, Real Estate Business, SMSF Adviser, Smart Property Investment, and The Adviser.

He has also been published in The Daily Telegraph and contributed online to FST Media and Mergermarket, part of the Financial Times Group.

James holds a BA (Hons) in English Literature and an MA in Journalism.

 

 

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