CBS Canterbury has increased its one and two-year fixed home loan rates by 10 basis points to 6.35% and 7.35% respectively. Its two-year rate is now inline with the median rate for non-bank lenders and its one-year rate is a little below.
If ever there was a reason why the Reserve Bank should start raising its cash rate sooner rather than later, yesterday's National Bank Business Outlook (NBBO) Survey was it, according to BNZ.
Also in the news we report on the retirement of an award winning broker and NZF released its annual results yesterday. The results come after the company announced it was securitising part of its loan book. It is expected this move will accelerate its activity in the home lending market. Also in the results story NZF talks about the value of its Mike Pero Mortgages investment.
A new bank for “heartland” New Zealand has been announced. The proposal is for Marac, Southern Cross Building Society and Canterbury Building Society to merge their businesses and list in the stock exchange. Read more about the bank here.
