ANZ is out this afternoon with a rise in 2,3,4 and 5 year fixed interest rates effective tomorrow.
3 years fixed goes to 5.95% from 5.80% and 5 years fixed to 6.45% from 6.30%.
This follows on from ASB raising 3,4,and 5 year fixed interest rates last week.
10 year treasury yields in the States took off like a scalded cat last week from mid ones to mid twos and our own 5 year swap rate at the time of writing up today at 4.06%.
Most of the major lenders are currently offering 1 year home loan fixed interest rates of 4.95%, most with various conditions attached, such as being being financed at under 80% of the properties value.
The Auckland property market, as widely reported, continues to truck along. At auction yesterday a 3 bedroom 158 sqm brick and tile unit in Rewi Rd, Royal Oak, was knocked down at $803,000.
This was followed by committed bidding on a “character brick homestead” on a corner site of 1012 sqm at Astley Avenue in New Lynn.
Eventually selling for $831,000, the young couple who tried to slow the bidding down by bidding $1,000 when the bid was at $560,000, were presumably left to ponder another weekend of open homes.
Following on from recent Home Loan fixed interest rate cuts in the market of late, HSBC has cut their 1, 2, and 3 Year Fixed Interest Rates to 4.99% for “Premier” Customers.
As with most special offers out there currently, “conditions apply” for both new and existing customers. (The qualification for Premier is listed as; combined lending of $500,000 or more, or $100,000 in savings and investments).
Westpac has trimmed their 1 Year Fixed Interest Rate for those taking out $100,000 in new lending, and meeting other criteria, by 0.36% to 4.89%.
3 years fixed falls by 0.51% to 5.39% and 5 years fixed down 0.24% to 5.75%.
Westpac Bank has followed on from yesterdays decreases in its 6 month and 1 Year Fixed Interest Rates by releasing a 2 Year Special Fixed Rate of 4.99% today.
Customers who take out at least $50,000 of new lending will be eligible for this special rate and various other conditions apply.
Westpac has trimmed their 6 month and 1 Year Fixed Interest Rates by 0.15%.
Both rates now sit at 5.25%.
ASB has lowered their 3 and 4 year Fixed Interest Rates by 0.15% and their 5 Year Fixed Interest Rate by 0.25%.
These rates are now respectively listed at 5.75%, 5.95%, and 6.25%. Their 2 year Fixed Interest Rate get raised by 0.20% to 5.45%.
Westpac has trimmed their advertised 5 Year fixed interest rate to 5.99% today.
The spread across their range of fixed interest rates, from the 1 year fixed interest rate of 5.45% to the 5 year fixed interest rate of 5.99%, would be one of the narrowest seen in recent times.
Barfoot & Thompson, Aucklands largest Real Estate firm has announced “In July we sold 998 homes for an average sales price of $591,444,” and that “This number of sales was at the very top end of the scale for recent years.” This compared with 778 properties in July 2011.
The firm’s total sales equated to $590M for July 2012 well up on the $412M of July 2011.
The 4 year fixed interest rate special of 5.79% with ASB has now expired. The Bank also released its year to June 30 numbers with headline profit up a stellar 21% to $685M. Total lending stood at $53B and total deposits a shade under $39B. Impairment losses on loans fell to a paltry $47M.
Westpac is running a 1 year fixed interest rate special of 4.99% provided your loan is less than 80% of the value of the home.
Another “Special” thru tonight from ASB and Sovereign of a 4 year fixed interest rate @ 5.79%. Available for new and existing customers provided the loan to value ratio is under 80% the announcement notes it “is for a limited time only”.
Enjoy your weekend.
Notification thru today from ASB of a special, 5 year fixed interest rate of 5.99%. Available for new and existing customers provided the loan to value ratio is under 80% the announcement notes it “is for a limited time”. This sort of rate was last seen in the wild back in February 2009, when for a 6 week period, 5 years fixed at 5.95% was available.