
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...
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