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Daily Commentary for 5 Feb 2010SBS has changed its mortgage rates today hiking up its one-year rate by 10 basis points to 6.35% and its two-year rate by 5 basis points to 7.30%. The one-year rate was previously on the median for minor bank lenders at 6.25%. Southern Cross Building Society also upped its one and two-year fixed rates by 20 basis points to 6.10% and 7.10% respectively. Its new rates are still well below the median for these terms for non-bank lenders.
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Analysis falls in favour of fixing two or three years Floating rates to rise but not as fast or far as expected Bollard lifts OCR, predicts more moderate pace of increases PRESS RELEASE: RBNZ raises OCR to 3% Economists and markets say interest rates up this week Does weak data mean the RBNZ should stop raising interest rates? |
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Flattening yield curve
The above graph shows the journey in which the home loan interest rates have taken over the past couple of years compared with the five-year median. With the considerable cuts to long-term fixed rates this month and the increases we saw to floating rates in June this year, the yield curve is starting to show signs of flattening out. MORE » |
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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