{"id":257130,"date":"2026-01-29T05:39:09","date_gmt":"2026-01-29T05:39:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/257130\/"},"modified":"2026-01-29T05:39:09","modified_gmt":"2026-01-29T05:39:09","slug":"westpac-hikes-longer-term-fixed-home-loan-rates-cuts-six-month-rate","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/257130\/","title":{"rendered":"Westpac hikes longer-term fixed home loan rates, cuts six-month rate"},"content":{"rendered":"<p class=\"vwaNpWtPaxhXkxNi\" style=\"display:none\">The rates for four-year terms are also increasing for both special and standard rates by 0.1%, up to 5.39% per annum and 5.99% per annum.<\/p>\n<p class=\"vwaNpWtPaxhXkxNi\" style=\"display:none\">The bank is increasing its two-year fixed special and standard home loan rates by 0.14%, up to 4.89% per annum and 5.49% per annum.<\/p>\n<p class=\"vwaNpWtPaxhXkxNi\" style=\"display:none\">Westpac\u2019s five-year term for fixed special and standard home loans is getting the largest increase, up 0.2% to 5.49% per annum and 6.09% per annum.<\/p>\n<p class=\"vwaNpWtPaxhXkxNi\" style=\"display:none\">Fixed special and standard home loan rates for Westpac\u2019s one-year term remain unchanged at 4.49% per annum and 5.09% per annum.<\/p>\n<p class=\"vwaNpWtPaxhXkxNi\" style=\"display:none\">Westpac NZ managing director of product, sustainability and marketing, Sarah Hearn, said wholesale interest rates continue to rise, which has driven up the cost of providing fixed home lending on longer terms.<\/p>\n<p class=\"vwaNpWtPaxhXkxNi\" style=\"display:none\">\u201cTwo-year wholesale rates are more than 0.5% per annum higher than they were in late November. In that time we\u2019ve increased our two-year fixed home loan rate by 0.44% per annum,\u201d Hearn said.<\/p>\n<p class=\"vwaNpWtPaxhXkxNi\" style=\"display:none\">\u201cWe\u2019re absorbing some of the cost of those rate increases within our business, while continuing to offer some of the best term deposit rates among the big five banks on longer terms.<\/p>\n<p class=\"vwaNpWtPaxhXkxNi\" style=\"display:none\">\u201cWe know interest rates are a hot topic among Kiwi homeowners at the moment. We\u2019re here to help and we encourage customers to talk to us for guidance on how they can pay off their home loan faster.\u201d<\/p>\n<p class=\"vwaNpWtPaxhXkxNi\" style=\"display:none\">Westpac is also making several changes to its term deposit and term PIE rates.<\/p>\n<p class=\"vwaNpWtPaxhXkxNi\" style=\"display:none\">Eight-month and 18-month term deposit rates will increase by 0.1%, up to 3.5% per annum and 3.7% per annum respectively.<\/p>\n<p class=\"vwaNpWtPaxhXkxNi\" style=\"display:none\">Three, four and five-year term deposit rates will increase by 0.2% to 4.1% per annum, 4.3% per annum and 4.4% per annum.<\/p>\n<p class=\"vwaNpWtPaxhXkxNi\" style=\"display:none\">The bank\u2019s two-year term deposit rate will receive the largest increase, up 0.25% to 4% per annum.<\/p>\n<p class=\"vwaNpWtPaxhXkxNi\" style=\"display:none\">All other term deposit terms for Westpac will remain unchanged.<\/p>\n<p class=\"vwaNpWtPaxhXkxNi\" style=\"display:none\">Tom Raynel is a multimedia business journalist for the Herald, covering small business, retail and tourism.<\/p>\n<p>Stay ahead with the latest market moves, corporate updates, and economic insights by subscribing to our <a href=\"https:\/\/www.nzherald.co.nz\/my-account\/profile\/newsletters\/?from=cmp\" target=\"_self\" rel=\"nofollow noopener\" title=\"https:\/\/www.nzherald.co.nz\/my-account\/profile\/newsletters\/?from=cmp\">Business newsletter<\/a> \u2013 your essential weekly round-up of all the business news you need.<\/p>\n","protected":false},"excerpt":{"rendered":"The rates for four-year terms are also increasing for both special and standard rates by 0.1%, up to&hellip;\n","protected":false},"author":2,"featured_media":257131,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[60698,138,10666,8498,100302,1345,5345,18060,77386,16400,111,139,69,19257,7676,118452,17239,1533,80],"class_list":["post-257130","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-although","tag-business","tag-cuts","tag-fixed","tag-hikes","tag-home","tag-increase","tag-loan","tag-longerterm","tag-mortgage","tag-new-zealand","tag-newzealand","tag-nz","tag-rate","tag-rates","tag-sixmonth","tag-westpac","tag-will","tag-zealand"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/257130","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=257130"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/257130\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/257131"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=257130"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=257130"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=257130"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}