Long-term fixed interest rates rise
Real Estate Institute survey shows fixed rates rose up to 0.5 percent during the past month
Wednesday, September 22nd 2004, 6:43AM
by The Landlord
A survey out today confirms what anyone with a mortgage already knows - long-term fixed interest rates are continuing to rise.
The Real Estate Institute survey shows fixed rates rose up to half a percent during the past month.
It says banks are capitalising on predictions of further Reserve Bank-induced rises by locking customers into fixed rates.
One-year rates range between 7.15 and 8.10 percent.
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