Episode Details

Westpac’s rates are rising—variable home and business loans up 0.25% for new and existing customers, respectively—following the Reserve Bank’s first OCR hike in three years to 2.5%. Fixed home loans stay untouched, shielding many borrowers. Savers benefit too: Bonus Saver jumps to 1.5%, while Notice Saver holds steady at 3%. Economists expect more rate hikes to reach around 3% to tackle inflation, but the property market remains balanced, with election tax changes keeping buyers strong despite higher costs.

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