Article #976495208
Friday, June 5th 2009, 7:15AM
BNZ has also now increased most of its fixed term rates on both its Standard, Fly Buys and Classic Home Loan options. Its one-year rates have gone up 20 basis points along with a 25 point increase to both its two-year and four-year rates. Its three-year rate has risen 24 basis points and its 18-month and five-year rates were increased by 40 and 49 basis points respectively. BNZ also made a 26 basis point reduction to its TotalMoney variable rate.
AXA and TSB Bank have made changes to their home loan rates just in time for the close of this working week. As with the trend in recent weeks, TSB has increased its three and four-year fixed rates by 15 basis points and added 35 points to its five-year rate. TSB also cut 14 points from its six-month to 5.50%.
AXA has made some huge changes to its long term rates starting with a 130 basis point increase to its five-year rate followed by a 105 point increase to its four-year fixed rate. Its three-year rate went up by 85 basis points and its two-year and 18 month rates were increased by 35 and three points respectively. AXA dropped both its six-month and one-year rates to 5.50% which was a 45 and 30 point cut respectively.
Public Trust has made a 10 bps increase to its three-year rate, its four-year rate has increased 20 bps and its five-year rate has jumped up 18 basis points.
ASB, BankDirect, Sovereign and NZ Home Loans have added 20 basis points to its three-year rate and have increased their five-year rates by a massive half a percent making Sovereigns rate of 8.10% the highest five-year rate listed on our table. ASB and Sovereign also increased their four-year rate by 30 basis points.
To view these latest rate changes and more click here and click here to graph comparisons.
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