We have more bank increases to longer term home loans; this time SBS has put up some of the rates it left unchanged last week and TSB have joined in the upward movement. TSB's three, four and five year rates are 7.45%, 7.95% and 8.30% respectively.
PSIS has increased its two-year fixed home loan rate by 15 bps to 6.35% and also yesterday we had NZF increase its rates and a story about how it has changed its LMI for home loans.
Two key banks have kept their rates unchanged in this current episode of increases. They are Kiwibank and BNZ. The other notable trend is that SBS is the only bank to increase 6 month and one year rates.
There are more signs the housing market is on the up with a report from QBE suggesting house prices are set to soar. We have the story here plus links to the full report.
