westpac term deposit rates

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Westpac has increased its fixed mortgage and term deposit rates amid rising swap rates and geopolitical tensions.

Westpac has become the first major bank to raise its fixed mortgage and term deposit rates in response to recent increases in swap rates and escalating tensions in the Middle East. This move signals tightening financial conditions and may impact borrowing costs for homeowners. The rate changes reflect Westpac's response to economic pressures and shifting market dynamics in New Zealand during July 2026.