A post by @FirstSquawk on X.

Westpac will raise its variable mortgage rate by 25 basis points for both new and existing borrowers, effective November 13. The move lifts the bank’s variable home-loan pricing by 0.25 percentage points, affecting its entire variable-rate book rather than only new customers. The decision matters because it signals higher borrowing costs are being passed through to existing homeowners, with potential implications for household cash flow and housing demand. What to watch next is whether rival Australian lenders match the increase and how the repricing feeds into mortgage competition and borrower refinancing activity.