A mortgage broker is saying not to panic about rising mortgage rates.
Westpac has announced a 30 basis point increase to its 2-5 year fixed rates.
They claim the move reflects rising wholesale rates and higher costs for long-term funding.
Sue Tierney told Heather du Plessis-Allan that people do have the opportunity to negotiate rates.
She says the bank has an advertised rate, but that doesn’t mean you have to accept it.
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The Mike Hosking Breakfast