Big banks' fixed home loan rates rise

Monday 27 December 2004

The big banks' recent and aggressive battle for mortgage market share looks to be fading with at least three bumping up their two-year fixed rates.

By The Landlord

BNZ and National Bank have hiked their two-year fixed rates to 7.6 per cent. ASB Bank's rate for the same period is now 7.7 per cent.

The big banks had previously offered two-year fixed rates at about 7 per cent, with some as low as 6.95 per cent.

The move towards higher rates apparently brings to an end the two-month battle for market share in the fiercely competitive home loan market.

Market watchers said the banks' interest rate war was also an attempt to rejuvenate the slowing housing market, which has pushed the domestic economy along at a break-neck speed over the past two years.

Read More - Opens in a new window
Commenting is closed

Property News

More than fair “wear and tear”

Proving tenant liability for damage has long been a major worry for landlords but a recent Tenancy Tribunal shows that it can be done.

House Prices

No stopping Capital price rises

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.


Demand challenges for commercial sector

Vacancy rates in the commercial property sector are set to increase as changing economic conditions dampen demand.

Site by PHP Developer