Article #976495512
Wednesday, August 19th 2009, 7:28AM
Co-operative PSIS yesterday raised its three-year rate by 40 basis points, taking the rate 7.35% and its four-year rate by 45 points to 7.85%. Although it has increased its rates it is still has some of the lower rates in the market with equivalent mainstream banks five to 10 points higher.
Public Trust has made rate increases this morning. Its two-year rate has gone up by 25 bps to 6.5%, its three-year rate went up by 55 bps to 7.95%, its four-year rose by 45 bps to 7.95% and its five-year rate increased by 40 bps to 8.30%.
Making mortgage news headlines is BNZ’s decision to move away from selling home loans through its mobile mortgage managers and to focus on more in-house sales.
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