Last week we took a look at our major banks current retail mortgage rates in comparison to their five-year average. This week we are doing the same with our minor banks.
Each yield curve for both major and minor banks are relatively the same, however the minor banks have a lower overall five-year average and lower current floating rates by around 30 basis points. When comparing the two groups of banks in March last year, the minor banks had higher long-term rates by approximately 50 basis points were as now they are virtually on a par.
