MORTGAGE RATES IN 2020
Ahead of the Reserve Bank of Australia’s (RBA) first monetary policy decision scheduled in less than two weeks, Westpac and Bankwest announced several changes to their offered rates – primarily their fixed rates.
If you are in the market for a fixed investment rate, the market is getting competitive with Westpac and Bankwest latest offerings.
Westpac – Premier Advantage Package – Principle & Interest payments.
Bankwest – Complete Package – Principle & Interest payments.
| 1 YR 3.19% | Comparison Rate 4.40% |
| 1 YR 3.49 | Comparison Rate 4.00% |
| 2 YR 3.09% | Comparison Rate 4.30% |
| 2 YR 3.09% | Comparison Rate 3.92% |
| 3 YR 3.09% | Comparison Rate 4.22% |
| 3 YR 2.93% | Comparison Rate 3.84% |
| 4 YR 3.19% | Comparison Rate 4.18% |
| 4 YR 3.49% | Comparison Rate 3.98% |
| 5 YR 3.19% | Comparison Rate 4.12% |
| 5 YR 3.19% | Comparison Rate 3.85% |
So, let’s watch, wait and see what the RBA does regarding interest rates in the next couple of weeks and the domino effect of the remaining Financiers to follow.
** The comparison rate is based on a loan of $150,000 over a term of 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
**Rates are part of a package which attracts an annual package fee.
Warm regards,