With no change to the OCR yesterday, its good news for borrowers as it is unlikely for floating rates to rise for several months.
In rate news, Silver Fern Mortgages has increased its one-year rate by 10 basis points and dropped its two and three-year rates by 25 points and its four and five-year rates by 5 points. These changes bring their rates closer to the median rates for non-bank lenders.
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