Mortgage News

ANZ/National cuts one-year rate below floating

Tuesday 1st of March 2011

In the hours following the earthquake a week ago, two-year swap rates fell 25 basis points and continued to fall during the week to around 45 basis points lower in response to market expectations that the Official Cash Rate (OCR) would be cut by the Reserve Bank.

It was only a matter of time before this drop was reflected in fixed mortgage rates with ANZ and National banks taking the lea...

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