Article #976495455
Thursday, August 6th 2009, 12:54PM
SBS Bank raised its six-month and one-year mortgage rates by 10 basis points this morning. Its new six-month rate is 5.60% and its new one-year rate is 5.70%. New Zealand one-year swap rates rose by 8bps to 3.13% this morning also.
The lowest six-month mortgage rate offered by a bank in New Zealand is currently 5.39%, offered by Westpac and HSBC, although the HSBC rate is only for mortgages above NZ$500,000. ANZ is offereing a three-month rate of 5.35%.
The lowest one-year home loan rate is currently 5.49%, also offered by Westpac, although ASB, ANZ and National Bank are offering 5.50%.
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