Episode Details

Westpac’s floating rates are rising as the official cash rate hits 2.75% — a quarter-point jump that’s already baked into fixed-rate deals, leaving most borrowers unaffected. New variable loan customers see a 0.25% hike Monday, while existing ones get it Thursday. Even some savings accounts are affected. Despite the uptick, experts say this is expected and unlikely to trigger a housing market meltdown, with rates still projected to climb over the next few months.

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