Westpac and BNZ follow with lockdown rate hikes
Westpac and BNZ are the latest big banks to make significant mortgage rate increases, hiking prices by up to 30 basis points.
They follow the lead of ASB, which raised fixed mortgage rates by up to 30 basis points last week.
Westpac has increased pricing on one year, 18 month and two year mortgage rates.
One year rates increase by 30 basis points, with Westpac's one year carded rate at 3.45% and one year special at 2.85%.
The bank's 18 month rates increase by 24 basis points,...MORE»
Hardship clients face credit issuesFriday, September 17th, 9:59AM
Clients making mortgage deferral requests during lockdown have been told their hardship status will affect their credit rating, according to an Auckland-based adviser. MORE» |
Major rate hikes at big four banksThursday, September 16th, 10:18AM
ASB has hiked mortgage rates by up to 30 basis points this morning, a significant move likely to trigger further market increases. ANZ has also raised pricing on a range of fixed terms. MORE» |
Prospa raises A$200 million for business lending
Non-bank lender Prospa has raised $200 million for SME lending on both sides of the Tasman as it capitalises on major banks retrenching from the market.
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Mortgage rates have hit their low point in this cycle and the next move is up despite the latest Covid outbreak, say ASB economists.
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The Reserve Bank is likely to stick to its guns and hike the official cash rate by 25 basis points next month despite Auckland's ongoing lockdown, according to ANZ economists.
MORE»CCCFA changes delayed
The Government has agreed to delay the start of the Credit Contracts Legislation Amendment act after pressure from the industry.
MORE»Avanti closes out biggest ever NZ securitisation
Avanti Finance has raised $350 million which will help it grow and support the mortgage adviser network.
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