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War ends fixed loan rate falls

The war in Iraq is pushing interest rates higher and fixed loan rates are following.

Recent trends in global wholesale financial markets suggest would-be home owners should hurry to snap up the low fixed rate deals currently on offer, although whether these trends continue is entirely dependent on the outcome of the US/Iraqi war.

Since the bombs started falling on Bag

Wednesday, March 26th 2003

hdad, the yield on US 10-year Treasury bonds have soared about half a percentage point from what was their lowest level since 1958. The market is betting that the US will quickly win the war, clearing the way for the US economy to rebound.

Where US bonds go, so the rest of the world’s wholesale markets follow.

"At the moment, there’s growing confidence that the war will be reasonably quick and contained," ASB Bank chief economist Anthony Byett says.

"What we’ve seen is the removal of the risk premium that’s built up in the last few weeks. If there’s a quick resolution to the war, you will see the fixed rates in New Zealand go up reasonably quickly."

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Top Mortgage Rates

Unity First Home Buyer special 4.29
SBS FirstHome Combo 4.29
China Construction Bank 4.85
Co-operative Bank - First Home Special 4.85
ICBC 4.85
Kiwibank Special 4.89
Westpac Special 4.89
BNZ - Std 4.89
SBS Bank Special 4.95
AIA - Go Home Loans 4.95
Co-operative Bank - Owner Occ 4.95
Nelson Building Society 4.93
ICBC 4.95
AIA - Go Home Loans 4.95
Wairarapa Building Society 4.95
TSB Special 4.95
ANZ Special 4.95
ASB Bank 4.95
SBS Bank Special 4.95
Westpac Special 4.95
China Construction Bank 4.95
Kiwibank Special 4.95
SBS Bank Special 5.39
ICBC 5.39
Westpac Special 5.39
BNZ - Classic 5.59
BNZ - Std 5.59
Co-operative Bank - Owner Occ 5.59
ASB Bank 5.69
AIA - Go Home Loans 5.69
Kiwibank Special 5.79
Kainga Ora 5.79
ANZ 5.79
SBS Construction lending for FHB 3.94
AIA - Back My Build 4.44
CFML 321 Loans 4.99
Co-operative Bank - Standard 5.95
Co-operative Bank - Owner Occ 5.95
Heartland Bank - Online 5.99
Kiwibank - Offset 6.35
Kiwibank 6.35
TSB Special 6.39
China Construction Bank Special 6.44
ASB Bank 6.44

Full Rates Table

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