Article #976495527
Friday, August 21st 2009, 9:19AM
TSB has made the second lot of increases to its home loan rates in a week. Today it has added 16 basis points to its two-year rate taking it to 6.35%. Last Friday it increased this term by 20 points from 5.99% to 6.19%. The only other rate change has been from Credit Union North which increased its two and three year rates 25 and 45 respectively.
We have a new graph on mortgagerates.co.nz which shows how the gap between the OCR and five year fixed rate has opened up in recent months. On the site too is a report on BNZ's Weekly Outlook with some interesting comments on how difficult it is to forecast interest rate movements at the moment.
Kiwibank released its results yesterday. The bank has continued its break neck growth over the past year and also is now starting to source wholesale funding offshore to help its growth.
Also yesterday changes were made to the Welcome Home Loan scheme to allow first home buyers borrow more money.
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