Rates limbo; Are you happy with getting Level 5?

We've been a little quiet with our weekly TMM newsletters so thought it was time to get them going again. Here's a wrap of last week's news and some thoughts on what's happening in the market.

Friday, November 16th 2018, 3:09PM

Last Saturday it was a bit of a surprise to see ANZ launch its sub 4% fixed home loan rates. It hasn't been a surprise though to see most of its bank competitors follow suit.

However, it was sort of interesting that (at the time of writing) neither BNZ nor Kiwibank had matched the cuts...especially as both banks have a record of being pretty competitive on price.

Maybe at Kiwibank, it is a case of its relatively-new CEO Steve Jurkovich, changing tack. He did say to TMM earlier this year he was "not a massive fan of being rates driven".

See here

The Code Working Group has put out its latest proposed Code of Professional Conduct for all financial advisers. A key point is that mortgage advisers would need to gain the Level 5 qualification. There's been good debate on our sister site, Good Returns, but little from mortgage advisers.

I guess you are all happy with the idea?

Tags: Opinion

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