ASB's surprise move
Monday, February 15th 2010, 7:34AM
In a surprise move this morning, ASB. BankDirect, Sovereign and NZ Home Loans have cut their longer term fixed rates.
All four lenders have reduced one-year rates by 30 basis points as well as dropping three, four and five-year rates by 15, 30 and 25 basis points respectively. ASB Bank now have the lowest four and five-year fixed rates for a major bank.
Three, four and five-year rates have been on the rise since February of last year, todays cuts are the first by any bank since then.
| « TSB follows Kiwibank | Yep, it's the two-year market for SBS » |
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