It has lowered its one-year fixed rate from 5.25% to 5.19%, matching what ANZ did on Friday night. The main difference being that it is not labelled as a "limited time" offer and there is no indication about future movements.
ANZ has made it clear that at the end of the "undefined limted time" the new one-year rate would be higher than its was before this offer.
Westpac has also increased its four year rate 16 basis point to 6.15%, and its five year rate 26 points to 6.25%.
Its other fixed mortgage rates are unchanged, including its 18 month rate of 5.40%.
Earlier in the day it withdrew its limited-time 3 year fixed Special of 5.39%.
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