Westpac, NAB lift variable mortgage rates

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From Domainfax:

Westpac is lifting variable interest rates on new and existing interest-only home loans, the bank has confirmed.

The changes will come into effect December 16. The bank is said to be raising the standard variable rate by 8 basis points on interest-only home and investment loans.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.