Mortgage News
Kiwibank raises floating rate 20 basis points
Tuesday 27th of January 2004
But rather than profiteering, Kiwibank has been very late in responding to a rise in wholesale rates back in November and its floating rate is still 45 basis points lower than the lowest of the major home lenders.
Kiwibank’s rate rose from 6.55% to 6.75%. Chief financial officer Craig Stewart says Kiwibank constantly monitors both the wholesale market and bank margins. "We held our rate...
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