WESTPAC, NAB COMPLETE RATE RISE QUARTET

Westpac has joined the other three major banks in raising mortgage rates more than the Reserve Bank with a 35-basis-point increase.

The move came just over an hour after National Australia Bank raised its standard variable mortgage rate by 43 basis points.

While Westpac's increase is the smallest of the big four, it still has the highest standard variable mortgage rate.

The standard variable mortgage rates for the big four banks are:

NAB - 7.67 per cent
ANZ - 7.80 per cent
Commonwealth - 7.81 per cent
Westpac - 7.86 per cent


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