Header Ad Module

Collapse

Announcement

Collapse
No announcement yet.

Home loan rates rise in rush to fix

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Home loan rates rise in rush to fix

    Fixed mortgage rates have been driven higher this week, largely because of a stampede of homebuyers convinced recent low levels were soon to rise, industry figures say.

    But the cost of the 30 to 40 per cent of the funding banks raise overseas is also adding to the pressure.

    ANZ National, New Zealand's largest bank, yesterday raised fixed rates for the second time in less than a week, lifting its two-year rate by 0.6 percentage points to 6.75 per cent and its five-year rate by 0.75 percentage points to 7.5 per cent.

    On top of increases on Monday, the two rates have gone up 0.76 percentage points and 1 percentage point respectively in five days.

    ANZ National's rivals have also increased fixed rates in recent days.

    Only a couple of weeks ago, many commentators including bank economists were predicting longer-term rates would remain low.

    Read more...


    Also watch "What to do now long term mortgage rates are rising" - click here...


    Jenny

  • #2
    See further comment:
    http://www.propertytalk.com/forum/sh...ad.php?t=20715
    "There's one way to find out if a man is honest-ask him. If he says 'yes,' you know he is a crook." Groucho Marx

    Comment

    Working...
    X