First Active to increase its home loan rate

First Active has announced that the bank will increase its variable rate for existing home loan customers by 0.25 per cent from next Thursday. The rate rise applies to all existing customers and new business.

The standard variable rate will increase from 4.88 per cent to 5.13 per cent. First Active also offers a one-year discounted variable rate to new business and this will rise from 4.38 to 4.63 per cent.