(Updated: Westpac have now increased its standard home loan rates subsequent to the removal of 'specials'.)
This morning, Westpac has advised they have withdrawn all their 'special' home loan rates.
This involves terms of 2, 3 and 5 years.
It effectively raises their rates for these terms.
For two years, the standard rate is 6.19%, 34 bps higher than the withdrawn special rate of 5.85%.
For three years, the standard rate is 6.69%, 44 bps higher that the withdrawn special of 6.25%.
For five years, the standard rate is 7.40%, 51 bps higher than the withdrawn special of 6.89%.
The removal of these rates leaves Westpac with no market-leading rate offers.
Later in the morning, Westpac advised higher fixed mortgage rates on their standard offers.)
Their six month fixed rate has been increased to 5.80% from 5.75%.
Their one year rate has risen to 6.09%, up +14 bps from 5.95%.
Their 18 month rate is now 6.30%, up +16 bps.
Their two year rate is now 6.39%, up +20 bps.
Their three year rate is now 6.65%, down -4 bps from 6.69%.
And their five year rate has been cut back to 6.99% from 7.40%.
These changes come after strong rises in swap rates and the 90 day bank bill rate yesterday.
To stay updated with the latest rates, see all banks' carded, or advertised, home loan rates here.
This is how the updated Westpac mortgage rates compare as at 11:00am Friday, June 27, 2014:
| below 80% LVR | 1 yr | 18 mths | 2 yrs | 3 yrs | 5 yrs |
 |
5.95% | 6.19% | 5.85% | 6.55% | 7.40% |
 |
6.09% | 6.30% | 5.85% | 6.65% | 6.99% |
 |
5.99% | 6.25% | 6.39% | 6.25% | 6.99% |
| Kiwibank | 5.85% | 5.85% | 6.29% | 7.20% | |
 |
6.09% | 6.30% | 6.39% | 6.65% | 6.99% |
| Co-op Bank | 6.00% | 6.00% | 6.00% | 6.25% | 6.89% |
 |
5.85% | 5.99% | 6.25% | 6.99% | |
 |
5.85% | 5.99% | 5.99% | 5.95% | 6.79% |
| TSB | 5.70% | 5.85% | 5.80% | 6.50% | 7.20% |
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