Mortgage News

Rates to head in opposite directions

Thursday 1st of May 2003

ASB Bank’s five-year fixed rate mortgage hit its lowest level in March at 6.95% since it introduced it in the mid-1990s. Then, in the wholesale market the five-year swap rate was about 5.8%. Last week after the central bank cut the OCR, the five-year swap rate again fell below 6%, but Byett says that’s unlikely to last.

Despite last week’s reaction, longer...

Want to read the full article?
Click the button below to subscribe and will have unlimited access to full article and all other articles on the site.