Weekly rate report: Two years way to go
Friday 20 February 2004
The big news on the home loan front this week has been the action in the two-year rate market.
By The LandlordBNZ kicked the game off announcing at the end of last week that it was dropping its two-year rate to 6.99 per cent - along with a little trumpet blowing ("BNZ...sets a new market benchmark for two-year rates").
Others - mainly banks - followed suit with ANZ, ASB and National going to 6.95 per cent (nothing like undercutting the market leader by 0.04 per cent). Bank Direct went a little further to 6.90 per cent, while HSBC and Sovereign (the biggest non-bank lender) dropped to just 7.15 per cent.
BNZ and HSBC also dropped other fixed rates and Westpac took its hybrid 30-month rate to 7.15 per cent.
Read More - Opens in a new window
Commenting is closed
There’s been a rallying of the market with the latest REINZ data showing both sales volumes and median house prices noticeably up with the onset of Spring.
There’s no sign of a slow-down in Wellington’s property prices with Trade Me Property’s latest data showing that asking prices continue to rise solidly.
Auckland-based commercial property disrupter, Jasper, has raised $2.3 million in seed funding following investment from European asset manager M7 Real Estate.
LVR speed limits continue to have a "strong effect" on investors, according to CoreLogic, after the latest Reserve Bank data showed a drop in investor borrowing.