Source: Radio New Zealand
RNZ
The rise in home loan rates continues with ASB Bank the latest to increase medium-term fixed mortgages.
It has marginally lowered its six-month rates, but loans for one year through to three years have been raised between 10 and 20 basis points.
ASB Bank said the rises reflected the increase in wholesale interest rates, which had risen more than half a percentage point since the last Reserve Bank decision at the end of last November.
ASB’s six month rate is 4.59 percent, down six basis points. The one year rate has risen to 4.59 percent, the 18-month rate 4.75%, two years now sits at 4.95 percent and the three year rate is 5.19 percent.
All major retail banks have their fixed mortgage rates over the past couple of weeks.
Last week BNZ cut its six-month rate by 20 basis points to 4.49 percent. But the four-year rate lifts by 26 basis points to 5.55 percent and the five-year by 40 basis points to 5.69 percent.
ANZ is reducing its six-month rate by 20 basis points and increasing its two-year and four-year rates by 20. Its five-year rate will increase by 30. That takes its two-year special to 5.49 percent and its five-year special to 5.99 percent.
Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand
