Article #976497313
Wednesday, September 15th 2010, 7:51AM
New Zealand's residential property sales slumped by more than a quarter in August, with the volume near the depths of its trough two years ago.
In rate changes this week, CBS Canterbury cut its two, three and five-year rates by 30, 35 and 15 basis points respectively. CBS's new rates are now well below the median rates for non-bank lenders.
Public Trust has changed tact of late and increased its standard floating and revolving credit products rates by 11 basis points to 6.10% and 6.30% respectively. Even with this increase, Public Trust's standard floating is still one of the lowest on our table.
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