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Warning for homeowners

Homeowners warned to expect home loan interest rates to rise to nine percent or more by the New Year

Thursday, September 16th 2004

A warning and some advice for home owners who still owe the bank.

BNZ Chief economist Tony Alexander is picking two more Reserve Bank rate rises before Christmas, so the floating home load rate will be nudging nine percent.

He says it may even rise beyond that in the new year.

Mr Alexander says there is a way of avoiding much of the pain.

He says the best thing for homeowners to do is to get locked into a two or three year fixed rate mortgage at around 7.5 percent.

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Top Mortgage Rates

Unity First Home Buyer special 3.99
ICBC 4.25
SBS FirstHome Combo 4.29
Co-operative Bank - First Home Special 4.39
TSB Special 4.49
ANZ Special 4.49
ASB Bank 4.49
SBS Bank Special 4.49
Unity Special 4.49
Westpac Special 4.49
Kiwibank Special 4.49
TSB Special 4.49
ANZ Special 4.49
Westpac Special 4.49
Wairarapa Building Society 4.59
ICBC 4.59
BNZ - Std 4.65
AIA - Go Home Loans 4.65
Unity Special 4.65
ASB Bank 4.65
SBS Bank Special 4.65
Nelson Building Society 4.69
SBS Bank Special 4.99
Westpac Special 4.99
ICBC 4.99
TSB Special 5.39
BNZ - Std 5.39
ANZ 5.39
AIA - Go Home Loans 5.39
ASB Bank 5.39
Co-operative Bank - Owner Occ 5.49
Kainga Ora 5.49
SBS Bank 5.59
SBS Construction lending for FHB 3.74
CFML 321 Loans 4.25
AIA - Back My Build 4.44
ICBC 5.39
Heartland Bank - Online 5.45
Co-operative Bank - Owner Occ 5.70
Co-operative Bank - Standard 5.70
ANZ 5.89
TSB Special 5.94
ASB Bank 5.99
Pepper Money Prime 5.99

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