The yield curve creeps up

The yield curve has continued to creep up today with ASB and its related groups increasing rates across the curve.

ASB and BankDirect have increased its one-year and 18-month rate by 10 basis points and its two-year fixed rate by 20 basis points.

Sovereign and NZ Home Loans have increased their six-month, three, four and five-year rates by 5 points and the one-year and 18-month rates by 15 points. The largest increase has been made to its two-year rate by 25 basis points.

Going in the other direction Credit Union North has dropped its floating and one-year fixed rate by 20 basis points to 6.25% and 5.75% respectively and Southern Cross Building Society has lowered its six-month rate by 29 bps to 5.20%, which is now the lowest six-month rate offered.