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Westpac reduces fixed term mortgage rates

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Contributor:
Fuseworks Media
Fuseworks Media

Westpac is cutting up to 50bps off numerous fixed term mortgage rates, including its six month rate, due to lower wholesale lending rates and an expected cut in the Official Cash Rate on March 10th.

Westpac's six month rate is now 5.75% and the one year rate 5.95%. Term Deposits have also been reduced. All changes are effective from March 2nd 2011.

Fixed Term Home Lending Rates

Decrease the 6 month rate from 6.25% to 5.75%

Decrease the 12 month rate from 6.45 to 5.95% Decrease the 18 month rate from 6.69% to 6.29% Decrease the 2 year rate from 6.59% to 6.49% Decrease the 3 year rate from 7.10% to 6.99% On Term Deposits

Decrease the 90 day rate from 4.00% to 3.50% Decrease the 5 month rate from 4.50% to 4.25% Decrease the 6 month rate from 5.00% to 4.50% Decrease the 9 month rate from 5.10% to 4.60%

Decrease the 12 month rate from 5.20 to 4.70% Decrease the 18 month rate from 5.40% to 4.90%

Decrease the 2 year rate from 5.50% to 5.00%

Decrease the 3 year rate from 5.75% to 5.50%

Decrease the 4 year rate from 6.00% to 5.75%

Decrease the 5 year rate from 6.25% to 6.00%

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