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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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Unity First Home Buyer special 4.15
SBS FirstHome Combo 4.19
ICBC 4.49
Kainga Ora 4.59
ASB Bank 4.65
AIA - Go Home Loans 4.65
ANZ Special 4.65
SBS Bank Special 4.69
TSB Special 4.69
Co-operative Bank - First Home Special 4.69
Nelson Building Society 4.69
China Construction Bank 4.95
Kainga Ora 4.95
ICBC 4.99
Nelson Building Society 5.09
Westpac Special 5.19
Kiwibank Special 5.19
Co-operative Bank - First Home Special 5.19
TSB Special 5.25
ASB Bank 5.25
AIA - Go Home Loans 5.25
SBS Bank Special 5.29
Westpac Special 5.49
SBS Bank Special 5.49
BNZ - Std 5.49
AIA - Go Home Loans 5.59
ASB Bank 5.59
ICBC 5.65
Kiwibank Special 5.69
Kainga Ora 5.69
Co-operative Bank - First Home Special 5.69
Co-operative Bank - Owner Occ 5.79
TSB Special 5.99
SBS FirstHome Combo 3.29
AIA - Back My Build 3.34
SBS Construction lending for FHB 3.74
CFML 321 Loans 4.20
Co-operative Bank - Standard 5.34
Co-operative Bank - Owner Occ 5.34
ICBC 5.39
Kiwibank Special 5.75
Kainga Ora 5.79
TSB Special 5.79
Unity Special 5.79

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