Wespac bank, one of Australia's major banks has announced changes to its mortgage home loan interest rates in response to this week's rise in official rates.
Westpac says it will raise variable home loan rates and business lending rates by 0.25 of a percentage point.
Its standard variable home loan rate is being set at 8.32 per cent.
The bank is also putting up some of its deposit rates by 0.3 per cent.
The changes are effective from Friday, August 10th 2007.
Source: ABC
