Mortgages

BNZ ups floating rate, advises customers to fix loans

Bank of New Zealand today raised its variable home loan rate, and advised customers to fix their interest rates.

Monday, September 20th 2004

BNZ said today in a statement its floating rate has increased from 8.25% to 8.50%.

Andrew Whitechurch, Bank of New Zealand's general manager of business development and strategy, warned more hikes were on the cards.

"We're predicting further official cash rate rises by the Reserve Bank this year, with interest rates potentially getting as high as 9 percent. We advise customers to fix home loans in the current environment and are doing all that we can to hold the popular one and two-year terms as low as possible for customers," Whitechurch said.

BNZ also announced an increase of its six month fixed rate from 7.35% to 7.50%, but its one and two year fixed rates are unchanged.

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Unity First Home Buyer special 3.99
ICBC 4.25
SBS FirstHome Combo 4.29
Co-operative Bank - First Home Special 4.35
TSB Special 4.39
Co-operative Bank - Owner Occ 4.45
ANZ Special 4.49
ASB Bank 4.49
SBS Bank Special 4.49
Unity Special 4.49
Westpac Special 4.49
Westpac Special 4.45
SBS Bank Special 4.49
BNZ - Std 4.49
Kiwibank Special 4.49
TSB Special 4.49
AIA - Go Home Loans 4.49
ANZ Special 4.49
ASB Bank 4.49
Co-operative Bank - Owner Occ 4.49
ICBC 4.59
Wairarapa Building Society 4.59
SBS Bank Special 4.99
Westpac Special 4.99
ICBC 4.99
BNZ - Std 4.99
AIA - Go Home Loans 5.15
ASB Bank 5.15
Co-operative Bank - Owner Occ 5.19
ANZ 5.39
TSB Special 5.39
Kiwibank Special 5.39
Kainga Ora 5.49
SBS FirstHome Combo 3.44
AIA - Back My Build 3.54
SBS Construction lending for FHB 3.74
CFML 321 Loans 4.25
Co-operative Bank - Owner Occ 5.30
Co-operative Bank - Standard 5.30
ICBC 5.39
Heartland Bank - Online 5.45
Kiwibank - Offset 5.80
Kiwibank 5.80
ANZ 5.89

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