Westpac lifts fixed mortgage rates

Westpac's lowest fixed rate now starts at 5.24% p.a. (5.94% p.a. comparison rate*) for a two-year term, as part of a broad wave of rate increases.

The move follows the Reserve Bank of Australia's decision last week to hold the cash rate at 3.6%, signalling that banks are still adjusting pricing amid expectations the RBA will keep rates unchanged through year-end.

While Westpac has lifted its fixed home loan rates, lending data from the September quarter show that mortgage activity remained solid.

According to the Australian Bureau of Statistics, the total number of new dwelling loan commitments rose 6.4%, with the total value up 9.6%.

Owner-occupier loans saw a 2% jump in number and 4.7% lift in value, reflecting steady demand among homebuyers.

It comes after Westpac reported a slight dip in full-year profit on 3 November but still outperformed analyst expectations, helping lift its share price by nearly 3% on the day it released its earnings.

The big four bank posted a net profit of around $7 billion for the year to 30 September, down from approximately $7.1 billion last year, as it continues to compete aggressively for market share in the highly competitive home loan sector.

New Westpac fixed home loan rates

These are the latest fixed rates for owner-occupier borrowers at Westpac:

Westpac's owner-occupier rates for fixed periods of one to three years have risen across the board, with those on one-year fixed periods increasing by 5 bps and on two-year fixed periods by up to 35 bps.

Interest-only borrowers with loan-to-value ratios (LVRs) of up to 70% now face rates between 6.04% and 6.19 % p.a., while higher LVR tiers see similar increases.

Rates on principal-and-interest fixed home loans also moved higher, with one-year fixed rates rising 5 bps to 5.54 % p.a. (7.93% p.a. comparison rate*) and two-year fixed rates by 35 bps.

Rates of three-year fixed periods, regardless of LVR, now sit at 5.69 % p.a. (7.50% p.a. comparison rate*), reflecting the largest jumps in the current adjustment.

For those borrowing to invest, Westpac's new fixed rates are:

Rate adjustments were also applied to Premier Advantage Fixed Options, Westpac's combined home loan and banking package.

The Premier Advantage Package from Westpac gives borrowers a 0.20% p.a. rate discount along with other product benefits for an annual fee of $395.

It's available for loans over $150,000, with the lowest advertised fixed rate of 5.24% p.a. reserved for customers who qualify for the package.

Investor demand for housing remains robust, with the number of new investment loans reaching a record 57,624 in the September quarter 2025, up 13.6%, according to the ABS.

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Lender	Home Loan	Interest Rate	Comparison Rate*	Monthly Repayment	Repayment type	Rate Type	Offset	Redraw	Ongoing Fees	Upfront Fees	Max LVR	Lump Sum Repayment	Extra Repayments	Split Loan Option	Tags	Features	Link	Compare	Promoted Product	Disclosure
loans.com.au	loans.com.au Variable Home Loan P&I <90%	5.29% p.a.	5.33% p.a.	$2,773	Principal & Interest	Variable			$0	$530	90%				Owner Occupier Variable Principal & Interest 10% Min Deposit Redraw Extra Repayments More details	Available for purchase or refinance, min 10% deposit needed to qualify. No application, ongoing monthly or annual fees. Dedicated loan specialist throughout the loan application.	Go to site	Compare	Promoted	Disclosure
Unloan	Unloan Variable Rate Home Loan LVR < 80%	5.19% p.a.	5.10% p.a.	$2,742	Principal & Interest	Variable			$0	$0	80%				Built and funded by CommBank Owner Occupier Variable Principal & Interest 20% Min Deposit Redraw More details	A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank.	Go to site	Compare		Disclosure
loans.com.au	loans.com.au Variable Home Loan with Offset P&I <90%	5.39% p.a.	5.43% p.a.	$2,805	Principal & Interest	Variable			$0	$530	90%				Owner Occupier Variable Principal & Interest 10% Min Deposit Offset Redraw Extra Repayments More details	Available for purchase or refinance, min 10% deposit needed to qualify. No application, ongoing monthly or annual fees. Quick and easy online application process.	Go to site	Compare	Promoted	Disclosure

_{Image created on Canva using assets from Westpac}