Westpac has cut its one, two and three-year "special" mortgage rates by 10, 6 and 9 basis points respectively.
The cuts match all the changes ANZ made on Wednesday, and the changes ASB made last Thursday to its 1 and 2-year rates.
ASB’s three-year rate of 4.79% remains a market leader.
Westpac's changes, which come into effect today (June 22), are as follows:
| Term | Old rate | Movement | New rate |
| 1 Year Fixed Special | 4.39% | -10bps | 4.29% |
| 2 Year Fixed Special | 4.55% | -6bps | 4.49% |
| 3 Year Fixed Special | 4.94% | -9bps | 4.85% |
At 4.29%, Westpac, ANZ and ASB's one-year rate is 10 basis points above HSBC’s market-leading rate of 4.19%.
Meanwhile, at 4.49%, their two-year rate is 20 basis points above HSBC’s 4.29% rate.
To be eligible for Westpac's "specials" borrowers require at least 20% equity, and need to credit their salaries to a Westpac transaction account.
Westpac's "standard" 1, 2 and 3-year rates are 4.99%, 5.05%, and 5.44%.
Here is the full snapshot of the advertised fixed-term rates on offer from the key retail banks.
| below 80% LVR | 6 mths | 1 yr | 18 mth | 2 yrs | 3 yrs | 4 yrs | 5 yrs |
| as at June 20, 2018 | % | % | % | % | % | % | % |
 |
4.99 | 4.29 | 5.15 | 4.49 | 4.85 | 5.85 | 5.99 |
 |
4.95 | 4.29 | 4.39 | 4.49 | 4.79 | 5.39 | 5.59 |
 |
5.35 | 4.39 | 5.05 | 4.55 | 4.99 | 5.89 | 6.09 |
 |
4.99 | 4.35 | 4.39 | 4.85 | 5.19
 |
5.39 | |
 |
5.25 | 4.29
|
5.15 | 4.49
|
4.85
|
5.89 | 5.59 |
 |
4.80 | 4.29 | 4.45 | 4.55 | 4.89 | 5.39 | 5.59 |
 |
4.85 | 4.19 | 3.85 | 4.29 | 4.89 | 5.29 | 5.59 |
 |
4.99 | 4.29 | 4.59 | 4.55 | 4.99 | 5.49 | 5.55 |
 |
4.85 | 4.29 | 4.39 | 4.55 | 4.89 | 5.55 | 5.69 |
See all banks' carded, or advertised, home loan interest rates here.
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