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.
Yesterday afternoon we penned this Blog looking at what is happening at the long-end of the curve: Long term rates look unattractive
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