Westpac's new app it launched earlier this month is seen by the bank as being a threat to mortgage brokers, a channel it uses to distribute its home loan products. More on that here.
The bank has also increased its longer term fixed home loan rates. The most interesting move is the three year rate which is sitting at 6.04%. Although it is an unusual number it hasn't been done to carve out a market leading position on the rates table. As you will see here it is in fact one of the least appealing bank three-year rates.
