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Old Mortgage News

Rate falls becoming pronounced

Tuesday 17th of June 2008

Good Returns has started compiling a series of graphs showing how the various groups are positioned against each other.

The three groups we have are:

  • Big banks: ANZ, ASB, BNZ, National and Westpac
  • Second tier banks: Kiwibank, Bank Direct, Kiwbank and HSBC
  • Non-bank lenders: Cairns Lockie, Sovereign, Pioneer, Wizard and PSIS.
The first graph below shows the median rates the major banks over the past three weeks and how pronounced the falls have been, particularly in the long end of the yields curve.

These falls have reversed the situation that, briefly appeared a couple of weeks ago, where some of the shorter term rates were actually priced at less than their longer term peers.

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