Lenders tweak interest rates
The latest survey of interest rates confirms that fixed rates have been edging up and floating rates have remain unchaged in the past month.
Wednesday, April 16th 2003, 10:51PM
by The Landlord
Floating mortgage interest rates remained completely unchanged in the month to April 10, while fixed rates edged slightly upwards as the majority of lending institutions ‘tweaked’ their fixed rates, according to the latest mortgage interest rate survey conducted by the Real Estate Institute of New Zealand.REINZ national president, Graeme Woodley says that many lending institutions had amended their one to five year fixed rates over the 30 days to April 10, but these movements tended to be minor adjustments that did not greatly affect the overall range of the rates on offer.
Although seven of the 17 institutions surveyed raised their fixed rates between 0.05 and 0.46%, five had lowered their fixed rates by 0.04 and 0.30%.
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