Overnight, Westpac raised its capped rate mortgage offers.
It increased its one year capped rate to 5.60% from 5.49%, up 11 bps.
It increased its two yaer capped rate to 6.20% from 5.85%, up 35 bps.
These increases are effective today.
Previously announced regular fixed mortgage rate increases from Westpac all come into effect today as well.
Westpac also raised term deposit rates yesterday for all terms from 18 months, some of the increases as much as 60 bps.
Westpac is one of only two banks that offer a capped rate mortgage product; the other is Kiwibank.
See all advertised mortgage rates here.
| 1 yr | 2 yrs | 3 yrs | 4 yrs | 5 yrs | |
 |
5.45% | 5.95% | 6.50% | 6.90% | 7.10% |
 |
5.40% | 5.95% | 6.40% | 6.80% | 6.99% |
| BNZ | 5.39% | 5.95% | 6.29% | 6.60% | 6.90% |
| Kiwibank | 4.89% | 5.95% | 6.40% | 6.70% | 6.90% |
 |
4.94% | 5.95% | 6.50% | 6.90% | 7.10% |
| Co-op Bank | 4.94% | 5.50% | 5.95% | 6.25% | |
| HSBC Premier | 4.99% | 5.65% | 6.05% | 6.30% | 6.60% |
| SBS / HBS | 4.95% | 5.45% | 5.80% | 6.29% | |
 |
5.40% | 5.85% | 6.45% | 6.80% | 7.00% |
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Mortgage choices involve making a significant financial decision so it often pays to get professional advice. A Roost mortgage broker can be contacted by following this link »
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