They were one of the first to go to 4.99% on the 2 year fixed rate.
It's going up 30 points to 5.29% under the premier advantage package as of next Wednesday.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Wouldn't say it's a reflection on the current market, short term money and cost of funding is extremely low right now…the lowest it has been for a while and will stay at this level for the next 12-18 month; hence why we have been seeing massive discount on offer by some of the major players and non-banks.
Having said that, Westpac has announced a 1% discount on new loans over $500,000 so this might be a reason for the increase in the fixed rate; spreading their cost of funding around and targeting the variable rate more.
Mick C | Shape Home Loans
http://www.shapehomeloans.com.au/
Email Me | Phone MeSame Banks. Better Rates. Served With a Passion.
The cheeky thing about WBC is that their SVR starts at a higher base than the rest of the others – so a 1% discount with WBC is more like a 0.9% discount everywhere else.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
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