Little evidence for aggressive interest rate hikes
Long term fixed mortgage rates continued to tumble this week with NZF and AMP making the most dramatic cuts to four and five year rates of between 65 and 75 basis points. TSB also cut long term rates.
Friday, July 16th 2010, 4:19PM
HSBC reduced its three, four and five-year rates by 20, 24 and 34 basis points respectively. It now has the lowest fixed rates on offer, albeit with the condition that customers must have a mortgage worth $500,000 or savings of $100,000 to qualify.
To see the other mortgage rate changes made by lenders this week click here.
In Expert Views BNZ economist Tony Alexander explains the seven considerations that should be made in deciding whether to fix or float and economists look at uncertainty around the recovery.
New Zealand consumer prices rise less than expected in the second quarter providing little evidence that the central bank needs to aggressively hike interest rates and two non-bank lenders pull out of the home loan market because of a lack of funding.
| « Long term fixed rates slashed | ASB first off the mark again » |
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