Major bank hikes fixed rates despite saying more RBA cuts on the way

Major bank hikes fixed rates despite saying more RBA cuts on the way

Westpac has hiked its fixed-rate mortgages, despite predicting the Reserve Bank will hand down two interest rate cuts next year.The big four bank announced this morning it is increasing the rate on its fixed-rate home loans by between 0.25 and 0.35 percentage points.Its lowest offer, for a one-year fixed term, is now sitting at 5.49 per cent, while its rate for four and five years is up to 5.89 per cent.READ MORE: Reddit launches High Court chal…

Westpac Hikes Fixed Rates Again — What It Means for Borrowers, Investors, and the Property Market

If you thought interest rate uncertainty was behind us, think again. Westpac has just lifted its fixed home loan rates for the second time in just over a month, increasing them by as much as 0.35 percentage points. The move follows the Reserve Bank’s latest hint that another rate hike could be on the cards...