SYDNEY, March 17 (Reuters) - Australia’s Westpac Banking Corp said on Friday it will raise mortgage rates across a range of products including for owner occupiers, a day after rival National Australia Bank made a similar move.
Westpac will increase its variable home loan rate for owner occupiers by 3-8 basis points, it said in a statement. Variable rates for property investors will be raised by 23-28 basis points.
On Thursday, NAB became the first of the country’s Big Four lenders to raise mortgage rates, a move that in part will be welcomed by regulators desperate to cool runaway real estate prices. (Reporting by Swati Pandey; Editing by Muralikumar Anantharaman)