ANZ and National Bank have followed ASB and increased their rates for terms of 18 months or more. ANZ and National have made slightly different changes, however the two biggest are NBNZ putting up its three-year fixed rate 50 points to 7.45% and ANZ increasing its four-year fixed rate 45 points taking it to 7.95%. All the changes are shown in our rates table here.
The changes mean there is now some significant differences between the banks, however those gaps are likely to close as other lenders follow suit.
As we point out in this blog, which also shows you current swap rates, wholesale interest rates haven’t risen much in recent times.
