Southern Cross has lifted its three-year rate by 15 basis points to 6.90% and Public Trust has also increased it four-year fixed rate by the same margin bringing it to 7.50%. Public Trust also added 22 points to its five-year rate which now sits at 7.90%.
With the Reserve Bank Govenor, Alan Bollard, wanting to see more fall in floating rates, we don't think he will be dancing in the streets over the latest floating rate cuts made by one lender last week. In saying this, with Bollard and the politicians wanting more downward movement in floating rates and many lenders raising longer term rates of late, makes you think, where to now for home loan rates?
