Westpac and Suncorp have lifted investor home loan rates as regulators try dampening growth in the property investment market. The latest statistics show that many lenders are still growing investor loans above APRA’s 10% ceiling.
Westpac is to raise rates for existing and new investors by .27% in its standard variable rate.
Westpac consumer bank chief executive George Frazis said fixed rates for housing investors will rise by .3% but fall by the same amount for owner-occupiers.
Suncorp will increase rates on new and existing investor loans by .27%, making its investment standard variable rate 5.81%.