Business
Westpac first to lift rates after RBA dumps yield target – The Australian Financial Review
Westpac has hiked its fixed mortgage rates for a second time in three weeks making it the first major bank to increase home loan…
Three-year fixed-rate mortgages are heavily tied to market rates of that term because banks either borrow or hedge interest rate risk at those market-determined rates. The sharp rise in yields mean banks must lift fixed rates for new borrowers to maintain…
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