One thing, possibly, stopping mortgage rates from falling in the near future is Kiwibank's term deposit "sale" which is starting today. The bank is offering increased investment rates for many of its short term deposits. As long as TD rates stay up so too will home loan rates. A potential upside of "TD Tuesday" is that the bank will gather more funds which it can use in the lending market. More on this story here.
Wairarapa Building Society has reduced its one-year rate by 20 basis points and added 10 basis points to its three-year fixed home loan rate. Their last rate changes were to its longer term rates nearly two months ago.
Click here to view our rates table in full and click here to graph comparisons.
