10 March 2005

Westpac announces increase in Housing Base Rate

Westpac has today announced a 0.25% increase in its Housing Base Rate (HBR) to 9.05%, effective 8am on 14 March for new customers and from 4 April for existing customers.

Westpac’s Choices Everyday Rate, a ‘floating’ rate available to those customers doing a wider range of business with Westpac, is also increasing 0.24% to 8.99%.

For your information, this most recent change adds $25.61 to a monthly payment on a $150k mortgage on a 25-year term.

Westpac’s headline call account deposit rate is also increasing 0.2%, with the top rate being 6.3%, among other deposit increases. These changes are effective from 4 April.

ENDS