Movements in Home Loan Fixed Interest Rates
ANZ has today raised rates across the board except for the 6 month fixed rate. Against a backdrop of a static 90 day bill rate and OCR they have also taken the opportunity to raise their Floating Interest Rates by 0.10%.
Interesting ANZ desribes the home loan interest rate moves as “making changes” as opposed to “raising rates”.
ASB are out today with its 2nd series of fixed interest rate rises in the past 3 weeks. The floating rate also gets a tweak up 0.10% despite the OCR cut a week ago.
3 years fixed up 0.40%
4 years fixed up 0.60%
5 years fixed up 0.50%
These are big moves over a 3 week period highlighting the benefit of staying in close touch with your broker if your not following the market yourself.
ASB has today tweaked up their Fixed Interest Rate specials.
1 year up 0.04% to 4.29%
2 years up 0.05% to 4.34%
3 years up 0.05% to 4.39%
HSBC has broken mortgage records by offering customers a 2 year fixed rate home loan at an interest rate of 0.99 per cent.
Sorry folks this rate is for customers in the UK…. 🙂
HSBC is offering 3.95% fixed for 18 Months for a limited time. A headline grabber.
Leading the market, and taking the opportunity to increase their margin, ASB has raised their 3,4, and 5 year fixed rates. For the under 80%’ers the 3 year is raised 0.26% to 4.75% and the 5 year up 0.16% to 5.25%.
Courtesy of SBS a 1 year fixed interest rate is available at 3.99%.
What a change from May 2008 when the 1 year was around 9.75%.
New Reserve Bank lending requirements are being implemented at the end of the month for the Auckland investment property market. A standalone investment property in Auckland will now be limited to 70% lending. Those who want a greater level of lending can still use existing equity in another property such as the home that they are living in to obtain the other 30% if so desired.
The BNZ has introduced a 2 year fixed home loan rate of 4.39%.
A 2 year fixed interest rate of 4.69% is out from Westpac today in line with the BNZ’s offering. (for the under 80%’ers)
BNZ has cut its 2 Year Fixed Rate to 5.15% (for a short time only)
ASB has lowered their 3 and 5 year “special rates” for the under 80%’ers to 5.45% and 5.65% respectively.