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Kiwibank special goes

Tuesday, December 20th 2011, 7:24AM

Kiwibank has ended its six month special hiking the rate from sub-five percent to 5.65%, Although it is a big move it still is towards the bottom of the table (ie: cheapest).

The other thing to consider is that since no one really sees rates rising why fix for six months when you can go floating? Interestingly enouugh the new rate is identical to Kiwibank's floating rate. When compared with its competitors it is pretty much one of the sharpest carded rates in the floating market.

Comments from our readers

On 20 December 2011 at 9:22 am Dave said:
It may be the cheapest CARDED rate but other main banks negotiating much less for 6 month rate at present
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Future interest rate hikes softened

The Reserve Bank has kept the OCR at 2.50% as expected, but had lowered its forecast track for the 90 day bill rate by around 60 basis points (0.6%) to a peak of 4.30% by the end of next year.

For borrowers that means floating home loans are not forecast to rise as much as previously forecast. In June the expectation was that the rates would rise 2% in the next 12 months: that figure has now been wound back to 1.4%.

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Disclaimer: Every possible effort has been made to keep the information in the rates tables as accurate as possible, however, neither the publishers of Mortgage Rates nor anyone engaged to compile these tables accept any liability for inaccuracies or any loss suffered as a result. It is strongly advised that readers check loan details directly with the provider concerned.

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