Mortgage News

Floating rates rise while fixed rates tumble

Tuesday 10th of August 2010

The OCR was increased by 25 basis points to 3.00% at its last review and since last Thursday 10 lenders (ASB, Sovereign, NZ Home Loans, Silver Fern Mortgages, Credit Union Baywide, NZF, TSB, ANZ, Westpac and Kiwibank) have increased their floating rates by 25 basis points (bps) with most making the same increase to six-month rates.

The floating rate median for the major banks is now 6.24...

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