Bankwest raises its home loan rates

Bankwest, which is owned by CBA, the nation's largest lender, has raised its standard variable rates.

It did so for principal and interest and interest-only home buyers.

The bank is raising rates by 15 basis points.

It puts the new standard variable rate at 5.57% for a owner-occupier principal and interest borrower and 5.92% for an interest-only.

For investors the new rates will be 6.22% and 6.47%.

Rowan Munchenberg, the Bankwest managing director, blamed the increases on a "sustained increase" in wholesale funding costs. 

"They have risen significantly since the beginning of the year," Munchenberg told Fairfax Media.